2 Credits: Taxes
Responding to the “10-Year Rule” Effective January 1, 2020
After years of proposals, the “stretch” IRA was taken out of the Tax Code by the SECURE Act. The SECURE Act includes many changes to retirement plans, however the most significant change for our estate planning clients is the elimination of the “stretch” IRA in favor of the “10-year rule.” This change will decrease wealth transfer and requires estate plan updates.
Specifically, this course will include:
- Examples to explain the quantitative difference under the new law compared to the old
- The conduit trust RMD disaster and solutions
- Selecting the best “heir” to receive the IRA
- The new spousal rollover trap and disclaimer planning
- IRD meets DNI – understanding the taxation of trusts named as IRA beneficiaries
- Using CRTs to maintain deferral and bracket management – the law and the math
- Life insurance after the SECURE Act
- Charitable planning with IRAs
- The mathematics of SECURE Act motivated Roth conversions for better bracket management and greater wealth transfer
- Using IRA trusts in low tax states to achieve state tax savings by avoiding or delaying the state taxation of the lump sum payout
- After completing the course, the attendee will understand when the new “10-year rule” applies and the exceptions to the rule.
- After completing the course, the attendee will understand new traps for the unwary created by the “10-year rule” such as the conduit trust disaster and the new spousal rollover trap.
- After completing the course, the attendee will understand potential planning solutions to mitigate the tax-cost of the new “10-year rule” including: multi-generational spray trusts,
- Roth conversions, and naming a CRT as the IRA beneficiary.
May 30, 2020
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02091-22-O
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1459
CTEC Federal Tax Law Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Robert Keebler, CPA/PFS, AEP (Distinguished), CGMA, MST is a partner with Keebler & Associates, LLP and the current chairman of the AICPA Advanced Estate Planning Section. In 2007 he was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners & Councils. He has also been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents …