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Your Client Wants to Name a Trust as the Retirement Plan Beneficiary … Now What?
January 22 @ 4:00 pm – 5:00 pm EST
Webinar Description
Laws change, but in many respects, the laws related to estate planning and taxation can change slowly, or not much at all. Tax exemptions and rates change, of course, but the laws themselves – not so much. One major deviation from this maxim was the SECURE Act, which came as a bit of a surprise at the end of 2019. It was followed by SECURE 2.0, proposed regulations, and then (finally!) final regulations, all of which combine to create a new landscape for clients who want to leave their retirement plans or IRAs in trust. For many clients, retirement assets comprise the bulk of their net worth and preserving them is a common goal. Hence, knowing how to use trusts for these assets is an important tool for estate planners.
Leaving retirement assets in trust can mimic leaving them outright to individuals, from a tax standpoint, but with the added protection a trust provides. However, to obtain the best overall tax results, the trust must be carefully drafted to qualify as a see-through trust. And in some cases the client’s estate planning goals may directly conflict with what the SECURE Act and its regulations require.
In this webinar, InterActive Legal Advisor Sal LaMendola will examine the rules about trusts as beneficiaries of retirement assets and review case studies to see how each estate planning scenario might play out. The presentation will consider the differences between conduit and accumulation trusts, what happens if a client has charitable goals, and more.
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.
InterActive Legal Speaker Series Presents
Salvatore LaMendola, Esq., InterActive Legal Advisor
Salvatore J. LaMendola, Esq. has been a member of the Trusts and Estates Practice Group at Giarmarco, Mullins and Horton, P.C. since 1996. Sal received his J.D. from the Notre Dame Law School and holds a B.B.A. from the University of Notre Dame. His main practice areas are general estate planning; amending irrevocable trusts through trust decanting, exercises of power of appointment, and other techniques; pre-death and post-death planning for IRAs and other retirement plans; and charitable planning with charitable remainder trusts, charitable lead trusts, and private foundations. Sal is a member of the Probate & Estate Planning Section of the State Bar of Michigan. He is also a regular continuing education presenter for legal education webinar providers Rossdale of Miami, FL and Strafford of Dallas, TX. He also serves on Strafford's Estate Planning Advisory Board and on the InterActive Legal Practice Advisory Board.