Trusts as Retirement Plan Beneficiaries WEBCAST
Overview
The 2019 SECURE Act changed the rules regarding distributions to beneficiaries from retirement plans in a negative way. Trusts are often named as beneficiaries for IRAs and other retirement arrangements. The choice may provide a different result than under prior law for many beneficiaries. Now is the time to revisit beneficiary choices. This class gives examples of income tax implications of various trusts that are chosen as beneficiaries.
Highlights
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? What happens when the trust beneficiary dies?
Prerequisites
Working knowledge of estate issues and retirement plans preferred.
Designed For
CPAs, attorneys and financial professionals.
Objectives
Recognize reasons trusts are named as beneficiaries. Identify the types of trusts used and their tax characteristics. Determine how retirement distributions are reported for various types of beneficiary trusts.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Mary Kay Foss, California CPA Education Foundation
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 $119.00
Member Price $89.00