Designation of IRA and other retirement account beneficiaries can be a complicated decision for most clients, and Trusts which hold individual retirement accounts are even more complicated. When they converge — for instance, when someone names a trust as a beneficiary to an IRA — things can go very wrong, and that can be very expensive. Inherited IRA’s naming outright beneficiaries, classes of beneficiaries, or the estate of the decedent, often become a bone of contention in estate administration, and improper planning, or lack of knowledge can expose practitioners to serious consequences, and potential claims of malpractice.
Articles and Publications
- Understanding the IRS’s New Approach to Gifts Made to Irrevocable Trusts | JDKatz, P.C. | Estate Planning Attorneys in Maryland
- Designating IRA Beneficiaries & Using Trusts as Beneficiaries of IRA’s | JDKatz, P.C. | Maryland & Washington D.C. Estate Planning Attorneys
- Estate Planning Practice 101 | JDKatz, P.C. | Montgomery County Estate Planning Attorneys
- Understanding the Tax Cuts & Jobs Act (TCJA) of 2017 | JDKatz, P.C. | Bethesda, MD Tax Attorneys
- The Stretch IRA Trust –from Conundrum to Opportunity
- Captive Insurance & Organizational Risk Management: Issues & Solutions—the tip of the iceberg