This program is eligible for 3 hours of CLE credit in 60-minute states. In 50-minute states, this program is eligible for 3.6 hours of CLE credit. Credit hours are estimated and are subject to each state’s approval and credit rounding rules.
Overview
In 2020, the SECURE Act changed the rules for Required Minimum Distributions (RMDs) for a participant during lifetime and for a beneficiary at the death of the participant. Understanding when distributions must be made from IRAs and other qualified accounts is critical for tax advisers, participants and beneficiaries.
However, even after SECURE Act 2.0 and the proposed SECURE Act regulations in 2022 (not yet finalized), there is still uncertainty and confusion about the new rules. With more retirees entering the “retirement environment,” it is important to review the basic rules of lifetime RMDs.
With the elimination of the opportunity for most beneficiaries to “stretch” the tax deferral over life expectancy, it is important to review the situations where some beneficiaries still have option to stretch the benefit. We will review the use of trusts as beneficiaries of qualified assets and the impact of certain trusts on distributions.
Recorded in August 2024.
Faculty
Guy F. Matthews, Esq., MBA, LLM
Mr. Matthews joined Eckell Sparks in 1989. He received his undergraduate and master’s degree in Business Administration from Widener University. He earned his law degree in 1979 from Temple University School of Law and a Master of Laws in Taxation from Villanova University. Additionally, he has received the C.L.U. and Chartered Financial Consultant designation from the American College. His practice concentrates in the representation and counseling of individual and corporate clients in business, estate and financial planning matters. He personally handles all aspects of the estate planning process from the client interview to the drafting and execution of all documents. Mr. Matthews has direct involvement with numerous corporate fiduciaries and has incorporated into his document’s changes suggested by the particular fiduciary. Estate planning techniques used, and documents prepared include wills, revocable trusts (including marital/bypass trusts), irrevocable life insurance trusts, generation skipping “dynasty” trusts, personal residence trusts, family limited partnerships, defective grantor trusts, split dollar arrangements, deferred compensation arrangements, grantor retained income trusts, grantor retained unitrusts, charitable remainder annuity trusts and unitrusts, and “stretch IRA” trusts. Mr. Matthews’s practice also involves the administration of complex estates, including post mortem planning, and estate tax audits. He is directly involved in the administration of trusts including charitable remainder trusts, life insurance trusts and marital/bypass trusts, assisting both corporate and individual fiduciaries. Additionally, Mr. Matthews prepares and conducts seminars for the public and professional organizations (CPA organizations, CPE approved, estate planning and bar organizations) on various estate planning topics. He has developed and presented “The Comprehensive Estate Planning Program” on a continuing basis. Other presentations include “Estate Planning with Qualified Plan and IRA Distributions,” “The Eternal IRA,” “Minimum Distribution Planning,” “The Use of Trusts and Tax-Managed Investing,” “Planning for Long-Term Care,” “Charitable Remainder Trusts – Giving Your Cake and Eating It Too.” Mr. Matthews has been selected for inclusion in Pennsylvania Super Lawyers® each consecutive year since 2009.
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Related Courses
Guardianship – Proposed Legislation (2023 Estate and Elder Law Symposium Session)
- City:
- Start Date:2023-02-14 19:00:00
- End Date:2025-02-14 19:00:00
- Length:
- Level:Various
- Topics:Elder Law
$79.00 ProPass
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