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Trusts as Beneficiaries of Retirement Benefits: Searching for Drafting Solutions
April 27, 2023 @ 1:00 pm – 2:30 pm EDT
Webinar Description
With respect to several issues created by SECURE and the proposed Treasury regulations on RMDs, there is still great uncertainty about whether there are “general rules” that can be applied when drafting a trust to be named as beneficiary of retirement benefits….ideally, “boilerplate” clauses that work for “everybody.” This webinar explores several of these conundrums, explains what is at stake with the particular concern, examines various proposed solutions, and TRIES to find a recommendation enabling drafters to move forward.
The special topics Natalie plans to cover are:
- “Separate accounts” within a retirement plan when a trust is beneficiary
- What separate accounts mean; not to be confused with “separate shares”
- The IRS rule on subtrusts as beneficiaries of a retirement account
- The special Code rule regarding subtrusts if there is a D/CI beneficiary: The “Type 1 AMBT”
- What difference it makes (or doesn’t make) under various fact patterns
- When you may get a better deal WITHOUT separate accounts!
- So your default position should be…..?
- The “oldest trust beneficiary” doesn’t matter any more…
- Except when it does!
- Conduit trusts: What is a conduit trust, when to use, benefits of, and when you get NO benefit
- The trap in a spray trust for minor child EDBs
- Can anything be done to help the elderly beneficiary?
- Toggling devices to qualify for the ghost life expectancy
- The “last man standing” approach
- How and why it works
- Testing your wipeout provision!
NOTE: Attendees at this webinar are expected to have a general understanding of the post-SECURE RMD rules and the IRS’s proposed RMD regulations issued February 2022 that give rise to the above problems.
This webinar is part of InterActive Legal’s All-Access Pass series for subscribers only.
Natalie Choate answers questions live at the end of the webinar,
and subscribers can post additional questions to the InterActive Legal Discussion Forum.
Continuing Education Credits
InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.