Dealing with an estate or trust from an income tax standpoint can be tricky enough in and of itself. Unfortunately, estates and trusts become exponentially more complicated when it involves an IRA (or other qualified retirement plan). 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.
This session will cover:
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