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SECURE 2.0 Act and Charitable Remainder Trusts: Planning Techniques and Key Considerations for Estate Planners

Trust Provisions, Minimizing Taxes, Preserving Assets, Payments From IRA and 401(k) to CRT, Beneficiaries Designations

Recording of a 90-minute CLE/CPE video webinar with Q&A

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Conducted on Thursday, August 29, 2024

Recorded event now available

or call 1-800-926-7926

This CLE/CPE webinar will prepare estate planning practitioners and tax advisers to identify key estate planning issues associated with utilizing charitable remainder trusts (CRTs) under the SECURE Act and SECURE 2.0. The panelist will outline the SECURE Act's rules and requirements, the implications of the recently issued SECURE Act final regulations, and the implications of SECURE Act 2.0 and its proposed regulations on trust planning for IRAs and other retirement plan accounts (collectively "IRAs").

Description

CRTs are income tax exempt irrevocable trusts that make payments to one or more individuals for life or a term of years, with the remaining assets distributed to one or more charities. Under the SECURE Acts, the 10-year rule will apply to most retirement plan inheritors and has renewed interest in using CRTs as IRA beneficiaries to mimic the stretch-out that was formerly available under pre-SECURE Act law.

The first part of the presentation will provide a basic overview of the rules governing CRTs and various types of CRT formats: CRATs, CRUTs, NI-CRUTs, NIM-CRUTs, and Flip-CRUTs. The second part of the presentation will review the post-death RMD rules for the six types of individual inheritors - the five categories of Eligible Designated Beneficiaries (EBDs) plus non-EDBs. The third and final part of the presentation will compare the advantages and disadvantages of using a CRT for each type of individual inheritor versus a conduit trust or an accumulation trust.

Listen as Salvatore J. LaMendola, Member at Giarmarco Mullins & Horton, discusses the SECURE Act's rules and requirements, changes stemming from SECURE Act 2.0, the asset protection and tax savings benefits, payment of IRA and 401(k) to CRT, and critical considerations in modifying and structuring CRTs in light of the SECURE Acts.

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Outline

  1. SECURE Acts; key provisions and remaining issues
  2. Rules governing CRTs and various types of CRT formats
  3. Post-death RMD rules
  4. Key estate planning considerations and challenges
  5. Structuring and utilizing charitable remainder trusts

Benefits

The panelist will review these and other key issues:

  • What are the SECURE Act rules when using CRTs?
  • What should estate planners know about the SECURE Acts as they relate to the use of CRTs?
  • What are the tax savings benefits of CRTs?
  • What asset protection benefits are available through CRTs?
  • What are the key provisions and potential challenges for estate planners for IRA payments and distributions?

Faculty

LaMendola, Salvatore
Salvatore J. LaMendola
Member
Giarmarco Mullins & Horton

Mr. LaMendola specializes in charitable planning and planning for retirement plan benefits. He is the editor of the...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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