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 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 is also
The program spends 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 also discusses 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 are 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
• Understanding the Basics of the Required Minimum
• Planning with Trusts
• How to Draft the IRA Beneficiary Designation
• Medicaid Planning with Retirement Assets
• Roth IRA Conversions
Chair and Moderator
Peter K. Kelly, Esq.
Ruskin Moscou Faltischek PC
Adam J. Gottlieb, Esq.
Ruskin Moscou Faltischek, P.C.
Paul Hyl, Esq.
Genser Dubow Genser & Cona LLP
Patricia C. Marcin, Esq.
Farrell Fritz, P.C.
Ilene D. Samuel, Esq.
L'Abbate, Balkan, Colavita & Contini, L.L.P.
Lori A. Sullivan, Esq.
Jaspan Schlesinger LLP
Statewide Program Planning Co-Chairs
Brian K. Haynes, Esq.
Bond, Schoeneck & King, PLLC
—SyracusePatricia J. Shevy, Esq.
The Shevy Law Firm, LLC
Total MCLE Credits 4.0
Ethics MCLE Credits 0.0
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