BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Estate Planning
  • schedule 90 minutes

Beneficiary Designations in Estate Planning: Transfer on Death, Payable on Death, IRAs, SECURE 2.0, Best Practices

$297.00

This course is $0 with these passes:

CLE
CPE
ALL
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Description

Beneficiary designations are critical to effective tax and estate planning and typically supersede non-probate asset transfers provided in a will or trust. Estate planners and advisers must recognize key issues regarding beneficiary designations and their impact on estate planning.

A common mechanism to avoid probate is the set up of transfer-on-death (TOD) and paid-on-death (POD) accounts which could have unintended consequences. PODs are used for bank accounts and certificates of deposit, while TODs are typically used for stocks, bonds, brokerage accounts, and real estate. However, careful consideration must be given to the potential conflict these designations may have on wills, trusts, or other estate planning documents, along with the possibility of having insufficient funds to pay debts, taxes, or other expenses.

Furthermore, beneficiaries must also be identified for life insurance policies, 529 plans, annuities, LTC policies, and retirement accounts. Naming these beneficiaries often has significant tax and estate implications. In addition, the SECURE Act eliminated the stretch IRA and replaced it with a 10-year distribution rule for non-eligible designated beneficiaries.

Listen as our panel discusses the legal and tax implications of beneficiary designations, critical considerations in transferring probate and non-probate assets, managing retirement accounts in light of the SECURE 2.0, and using trusts and other essential issues for estate planners.

Presented By

Jennifer V. Abelaj
Founder
Abelaj Law, PC

Ms. Abelaj has a combined background in business, tax, and the law. She started her career as a Certified Public Accountant with Ernst and Young and continued practicing as a CPA at two worldwide investment banks. In her legal career, Ms. Abelaj worked at both large and boutique law firms practicing in Trusts and Estates and Non-Profits. She has significant experience advising high net worth clients, both domestic or with an international footprint. She has worked with non-profit boards, executive directors, and lobbying groups.

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Britt Burner

Ms. Burner, Esq. is a partner at Burner Law Group, P.C., a boutique law firm concentrating in the areas of Elder Law, Estate Planning, Trusts and Estates, and Real Estate. Serving clients from New York City to the East End, she has been named a Super Lawyers Rising Star, and an Outstanding Woman in Law by Hofstra University. Ms. Burner serves as Vice Chair of the Elder Law and Special Needs Planning section of the New York State Bar Association. She also serves as a Charter member of the Advisory Council of the Katz Institute for Women’s Health at Northwell.

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Credit Information

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

  • BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, November 28, 2023

  • schedule

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

  1. Common beneficiary designation issues
  2. Probate vs. non-probate assets
  3. TOD and POD designations
  4. IRA beneficiary considerations and distributions under SECURE Act and SECURE 2.0
  5. Tax implications
  6. Trusts as beneficiaires
  7. Best practices for handling beneficiary designation errors

The panel will review these and other critical issues:

  • When do beneficiary designations trump heirs outlined in a will?
  • How SECURE and SECURE 2.0 distribution rules affect the tax consequences of inherited IRAs
  • What are common errors when naming beneficiaries, and how can they be avoided?
  • When should a trust be a named beneficiary?

Learning Objectives

After completing this course, you will be able to:

  • Identify common beneficiary designation errors
  • Decide when to consider a trust as a beneficiary
  • Ascertain how disclaimers affect the transfer of assets
  • Determine how the SECURE 2.0 affects distributions of IRAs to beneficiaries
  • 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 estate, gift and trust taxation including various trusts types, the unified credit, and portability.

BARBRI 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.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .