Inherited Retirement Benefits: Avoiding Pitfalls for Executors, Trustees and Beneficiaries
Recording of a 90-minute CLE webinar with Q&A
This CLE course will guide trust and estate counsel on the complexities of planning with inherited retirement benefits. The panel will discuss mechanisms to avoid pitfalls concerning inherited retirement benefits such as account titling, plan transfers, required distributions, basis reporting, special tax options, and other essential items to ensure optimum planning.
Outline
- Estate planning considerations for inherited retirement benefits
- Special considerations for IRAs, 401(k)s and other defined benefit plans
- Tax planning options
Benefits
The panel will review these and other key issues:
- What are the key estate planning considerations for inherited retirement assets?
- What obstacles are present in planning for inherited IRA accounts?
- What are the special considerations for planning for inherited 401(k)s and other defined benefit plans?
- What are the issues for account titling, plan transfers, and required distributions?
- What are the tax planning options?
- Should bequests to trusts be considered?
Faculty
Michael T. Clear
Partner, Chair Private Client Services Department
Wiggin and Dana
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust... | Read More
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust administration, probate litigation, and business succession planning. His estate planning practice includes assisting individuals and families in tax-efficient and practical estate and gift planning, including the preparation of wills, revocable living trusts, insurance trusts, and entities to own special family assets such as vacation homes and collections. Mr. Clear’s estate and trust administration practice often dovetails with his probate litigation experience, where he advises clients in will and trust construction cases, contested accountings, fiduciary removal proceedings, payment of unpaid claims, and conservatorship and guardianship matters. Mr. Clear also assists business owners with succession planning by presenting to family groups on business/estate planning matters and by preparing business entities, shareholders’ agreements, buy-sell agreements, and grantor-retained annuity trusts. He often facilitates the sale or purchase of business assets.
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Erin D. Nicholls
Atty
Wiggin and Dana
Ms. Nicholls focuses her practice on estate planning, philanthropy, trusts and estate administration services.
| Read MoreMs. Nicholls focuses her practice on estate planning, philanthropy, trusts and estate administration services.
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