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Dealing W/ Your Client's Retirement Assets-Online Video Replay

 Dealing With Your Client's Retirement Assets

Video Replay Webcast

1:00-5:00 p.m.

4.0 Total Credits: 2.5 credit hours of practice management and/or professional practice and 1.5 credit hours in skills for all attorneys



There are a significant number of clients who have much of their wealth invested in qualified retirement plans, individual retirement accounts (IRAs), and Roth individual retirement accounts (Roth IRAs).  Because these assets are subject to both potential income and estate tax, as well as potential early withdrawal penalties and penalties for the failure to take required minimum distributions, they take on added importance in making sure the proper income and estate planning techniques are applied.  

Income taxes are usually due when the assets in a qualified retirement plan or IRA are distributed.  In addition, unless an exception applies, if distributions are taken before age 59½, there is an early withdrawal penalty tax on top of the regular tax.  The client needs to know when there will be an income tax event and the techniques that are available to avoid this result.  With proper planning, income taxes can be minimized and the “tax shelter” effect of having assets held in such retirement arrangements can be maximized.  The experienced practitioners on the faculty will discuss the basics of the required minimum distribution rules, their application, and how the negative tax effect of receiving such distributions can be minimized.  How to appropriately designate a trust beneficiary will also be discussed. 

The program will spend time on understanding how to draft the governing qualified retirement plan or IRA beneficiary designation form.  The proper designation is especially important since not only does the designation provide who is to receive the retirement assets, but determines how fast assets must be paid out at death under the required minimum distribution rules. 

The program will also discuss non-spousal IRA rollovers, the ability to directly rollover amounts from qualified retirement plans to Roth IRAs, and Roth IRA conversions.  Special opportunities for the use of retirement assets in Medicaid planning will be covered, including a status report on where we are on the application of the new estate recovery rules to qualified retirement plans and IRAs. 

Whether you are a full-time trusts and estates practitioner or a lawyer who only occasionally drafts estate and financial planning documents, the presentations at this seminar from experienced speakers who deal with these issues daily, along with the written materials, will provide you with a basic understanding of the issues surrounding income and estate planning for qualified retirement plans and IRAs.  Such understanding is critical in adequately counseling your clients and by the way, helpful to your own personal retirement accounts as well.   

Program Agenda
8:30-9:00 a. m. REGISTRATION (outside meeting room)

9:00-9:10  INTRODUCTION AND OVERVIEW

9:10-10:10 
UNDERSTANDING THE BASICS OF THE REQUIRED MINIMUM DISTRIBUTION RULES
       * Required Distributions during Life
       * Required Distributions after Death
       * How These Rules Critically Impact Income and Estate Planning
       * How to Name a Trust as Beneficiary without Accelerating   Taxation
       * How to Disclaim Benefits to Save Estate and Income Taxes

10:10-10:30 
PLANNING WITH TRUSTS
       * Trusts as Designated Beneficiaries
       * “Conduit” Trusts
       * “Accumulation” Trusts
       * Taxation of Trusts receiving retirement plan benefits

10:30-10:45  COFFEE BREAK

10:45-11:45  
HOW TO DRAFT THE IRA BENEFICIARY DESIGNATION FORM
       * Issues to Consider
       * Incorporating Disclaimer Techniques
       * Incorporating Charitable Gifts
       * How to Correct Designated Beneficiary Mistakes
       * How to Properly Title the IRA after Death

11:45-12:15 p.m. 
MEDICAID PLANNING WITH RETIREMENT ASSETS
       * “Medicaid” as a Creditor
       * Planning Options for the Institutionalized Spouse
       * Planning Options for the Community Spouse
       * Potential Impact of the Expanded Estate Recovery Against Retirement Assets and IRAs 

12:15-12:45 ROTH IRA CONVERSIONS
       * What Options are Available?
       * What are the Applicable Rules?
       * When is it a Good Idea to Convert?
       * When is it a Good Idea to Re-Convert?

12:45-1:00  AUDIENCE QUESTIONS AND PANEL DISCUSSION

1:00 p.m.  ADJOURNMENT


Program Faculty

Chair and Moderator

Peter K. Kelly, Esq.
Ruskin Moscou Faltischek PC
Uniondale

Speakers (in alphabetical order)
 
Adam J. Gottlieb, Esq.
Ruskin Moscou Faltischek, P.C.
Uniondale

Paul Hyl, Esq.
Genser Dubow Genser & Cona LLP
Melville

Patricia C. Marcin, Esq.
Farrell Fritz, P.C.
Uniondale

Ilene D. Samuel, Esq.
L'Abbate, Balkan, Colavita & Contini, L.L.P.
Garden City

Lori A. Sullivan, Esq.
Jaspan Schlesinger LLP
Garden City


Statewide Program Planning Co-Chairs

Brian K. Haynes, Esq.
Bond, Schoeneck & King, PLLC
Syracuse

Patricia J. Shevy, Esq.
The Shevy Law Firm, LLC
Albany


Courseboook Authors (in alphabetical order)

Brian K. Haynes, Esq.
Bond, Schoeneck & King, PLLC
Syracuse

Frances M. Pantaleo, Esq.
Walsh Amicucci & Pantaleo LLP
Purchase

Tara Anne Pleat, Esq.
Wilcenski & Pleat PLLC
Clifton Park

Patricia J. Shevy, Esq.
The Shevy Law Firm, LLC
Albany

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*Please note that newly admitted attorneys cannot receive credit for their participation in CLE webconferences and webcasts.

The last day to pre-register online was August 14, 2012.

Members, please login to get member discounts.

Seminar
Registration	$95.00

Seminar
Registration	$195.00

Accommodations for Persons with Disabilities:
NYSBA welcomes participation by individuals with disabilities. NYSBA is committed to complying with all applicable laws that prohibit discrimination against individuals on the basis of disability in the full and equal enjoyment of its goods, services, programs, activities, facilities, privileges, advantages, or accommodations. To request auxiliary aids or services or if you have any questions regarding accessibility, please contact Cindy O'Brien at 800-582-2452 or cobrien@nysba.org.