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Dealing with an estate can be tricky enough in-and-of-itself. Unfortunately, estates become exponentially more complicated when an IRA (or other qualified retirement plan) is involved. Nevertheless, with a decent understanding of the core tax rules, one should be able to navigate the troubled waters of post-mortem IRA distribution planning.
Learning Objectives:
•Understanding and identifying “qualified designated beneficiaries” •Understanding when the “required beginning date” (“RBD”) starts for spousal beneficiaries and non-spousal beneficiaries •Calculating required minimum distributions (RMDs) for spousal beneficiaries and non-spousal beneficiaries •Understanding the “inherited IRA” concept and its benefits •Calculating the IRC Section 691(c) deduction •Naming trusts as beneficiaries of IRAs •Using disclaimers to preserve the IRA “stretch-out” period •Understanding the separate share rule (as it applies to IRAs payable to trusts) •Determining which asset to fund the 'bypass trust' at first death
