Trusts are often named as beneficiaries for IRAs and other retirement arrangements. The choice has an impact on both income tax and estate planning. Trusts allow the IRA owner or plan participant to have beyond-the-grave control over the distribution payouts but the 2019 SECURE Act changed the rules necessitating a thorough review.
What is the significance of the Retirement Plan Beneficiary? Primary vs. Contingent Beneficiaries. Is a Trust a “Designated Beneficiary?” Is it an “Eligible Designated Beneficiary?” Why do people want to name a trust as the beneficiary? Income Tax Aspects of Trusts as beneficiary. What happens when the trust beneficiary dies?
Working knowledge of estate issues and retirement plans preferred.
CPAs, attorneys and financial professionals.
Recognize reasons trusts are named as beneficiaries. Identify the types of trusts used and their tax characteristics. Determine how the probate code affects beneficiary trusts. Develop strategies to assist clients dealing with plan custodians.
Mary Kay Foss
Mary Kay Foss, CPA, a director with Sweeney Kovar LLP, has more than 30 years of practical experience in advising clients about retirement, income and estate planning issues. She is a frequent lecturer for community, professional and business groups and has authored and presented courses for tax professionals throughout California.
Foss is past chair of both the CalCPA Estate Planning Committee and the Committee on Taxation. She is a past president of the Estate Planning Council of Diablo Valley, the East Bay Chapter of CalCPA and the Estate Planning Council of the East Bay. She is a member of the AICPA Trust, Estate and Gift Tax Technical Resource Panel and has been quoted in California CPA magazine, as well as national publications.
Non-Member Price $109.00
Member Price $79.00