On-Demand Video
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The Secure Act Update 2023


  • City:
  • Start Date:2023-04-03 20:00:00
  • End Date:2025-04-03 20:00:00
  • Length:
  • Level:Intermediate
  • Topics:Estates

$249.00 ["ProPass"]

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Overview

Since 2020, The SECURE Act and its progeny have had wide-reaching effect on retirement savings and estate planning for most Americans and all of our clients.   Together, the SECURE Act,  the Proposed Regulations on February 23, 2022, Notice 2022-53 in October, 2022, the SECURE Act 2.0 in December, 2022, and the Final Regulations to the SECURE Act due later this year, have an evolving impact on the requirements for distributions from IRA accounts and qualified plans during lifetime and distributions after death.   We will review each of these legislative changes individually and their collective impact on retirement and estate planning.   

This course will discuss: 

A. Distributions during Lifetime:

1. New rules for lifetime withdrawals
2. Various new exceptions to the 10% early withdrawal penalty
3. Excise Tax changes
4. Portability of ROTH accounts and qualified plans
5. Qualified Charitable Distributions  

B. Distributions at Death:   

We will focus on the estate planning implications of the elimination of the “Stretch IRA” for most beneficiaries

1. The new “10-Year Rule” and Designated Beneficiaries
2. Exceptions to the “10 Year Rule” – Eligible Designated Beneficiaries
3. Non-Designated Beneficiaries and the old “Five Year Rule” 
4. The use of Trusts in planning with IRA and qualified plans including sample forms and beneficiary designations – Why Trusts may still provide a benefit 
5. “See Through Trusts”  –  Accumulation Trusts, Conduit Trusts, and Applicable Multi-Beneficiary Trusts –  the impact on Special Needs and Supplemental Needs Trust

C. Planning with 529 Plans: The asset that “gets out of control.”  So many of our clients are grandparents and parents who have accumulated 529 plans that may not be needed for higher education expenses

1. How the SECURE 2.0 rules may ease the tax bite on excess 529 accumulation — Rolling over some 529 assets into a Roth IRA    
2. Estate Planning and the 529 owner – contingent owners, the impact of owning a non-PA sponsored plan, and “529 ownership and FASFA”

 

All attendees will receive the course materials as a digital book. A printed copy of the course book is available, at a discount to attendees, for $40. Additional copies are available at full price. If you wish to purchase the printed version of the course book, please call PBI customer service at 800-932-4637. Please allow up to two weeks after the program for the printed version of the course book to be shipped.

Recorded in April 2023.

 

 

Faculty

Guy 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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