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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Thursday, April 18, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$297.00
CLE
CPE
ALL

This CLE/CPE webinar will provide estate planners guidance on structuring benefits from qualified retirement plans and IRAs to achieve maximum benefits and the interplay with estate and tax planning. The panelist will discuss the taxation of qualified plans, distribution of plan assets to the participant and after the death of the participant, critical estate tax considerations, utilizing trusts, and other key issues.

Faculty

Salvatore J. LaMendola
Member
Giarmarco Mullins & Horton, PC

Mr. LaMendola specializes in charitable planning and planning for retirement plan benefits. He is the editor of the firm’s E-Update, a monthly publication that summarizes several recent developments of interest to estate planners. He is also the assistant editor of the firm’s Newsletter, a quarterly publication that contains several articles on estate planning, business succession planning and charitable planning topics. He has been a member of the firm since 1996 and of the State Bar of Michigan since 1994.

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Description

Qualified retirement plans, such as IRA, 401(k), and 403(b) plans, must be handled carefully for estate and tax planning purposes. Estate planners must recognize key issues and tax consequences associated with handling qualified retirement plans in estate planning and the pitfalls to avoid.

As more people are holding their wealth in qualified plans and IRAs, navigating the rules and tax challenges stemming from plan beneficiary designations and distributions is essential to avoid adverse legal and tax implications. Estate planners need to understand (1) the income taxation of qualified plans and IRAs; (2) the distribution of plan assets to the participant during their life and after death; and (3) estate tax considerations.

In addition, utilizing certain planning techniques such as the use of trusts to minimize estate tax burden and maintain income tax deferral, designating appropriate beneficiaries, and other key items is essential to estate planning for qualified retirement plans.

Listen as Salvatore J. LaMendola, Member at Giarmarco Mullins & Horton, discusses the taxation of qualified plans, distribution of plan assets, critical estate tax considerations, utilizing trusts, and other key issues.

Outline

  1. Overview of qualified retirement plans
  2. Estate taxation of plan benefits
  3. Income taxation of plan benefits
  4. Planning for distributions: qualified retirement accounts and IRAs
  5. Utilizing trusts and pitfalls to avoid

Benefits

The panelist will discuss these and other key issues:

  • What are qualified retirement plans and what is their impact on estate and income tax planning?
  • How does the estate tax apply to plan benefits and distributions?
  • What is the income tax treatment of plan benefits and distributions?
  • What are the available planning techniques for qualified retirement accounts and IRAs for estate planning purposes?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Understand what qualified retirement plans are and their impact on estate and income tax planning
  • Recognize how the estate tax applies to retirement plan benefits and distributions
  • Understand the income tax treatment of plan benefits and distributions
  • Ascertain tax planning techniques for qualified retirement accounts and IRA distributions for estate planning purposes

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.