Recorded Workshops for Professional Advisors

The SECURE Act & Planning Options

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With the passage of the SECURE Act, effective January 1, 2020, the landscape of planning with qualified accounts has changed dramatically.  In the past 15+ years, attorneys and advisors were careful to promote the use of the stretch or inherited IRA to the next generation. The massive value of a lifetime stretch-out with tax free growth was easy to understand for clients as they looked at the legacy of their estates. The use of special trusts to supplement the Inherited IRA added asset protection to this planning and gave rise to inclusion of even younger generations to maximize the stretch-out. As the maximum time period to defer taxation on an inherited IRA is now 10 years, this program will review options to add value to the legacy of clients. The use of Roth IRAs, avoiding the Spousal Roll-over Trap, adding life insurance to a plan, and extending the number of beneficiaries of a qualified account will be reviewed. Presented by Attorney Daniel Purtell.

Topics include:

  • The Use of Roth IRAs
  • Avoiding the Spousal Roll-over Trap 
  • Adding Life Insurance to a Plan
  • Extending the Number of Beneficiaries of a Qualified Account

Estate Taxation & Basis Step-Up

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Estate planning used to be all about estate taxation, and for good reason. Back in 2000, the estate tax exemption per person was only $675,000 with an effective tax on every dollar above that amount at a 55% rate. Strategies like gifting, family limited partnerships, irrevocable life insurance trusts, complex gifting programs, and the use of bypass trusts were the name of the game. Now, in 2020, the exemption is $11.58 million, with an effective rate of only 40% over that amount. This has meant that for the past several years that the most important part of any estate plan for most of our clients is not estate taxation. But, there are still old plans that need to be updated that could actually cause another kind of tax….capital gains.

This program will review the current situation of estate taxation and how future planning must include a serious discussion about overall taxes, including capital gains and income tax. Presented by Attorney Daniel Purtell.