Planning for qualified plan and IRA distributions

Article Abstract:

Attorney Seymour Goldberg cautions estate planners that misdesignation of retirement plan beneficiaries can lead to accelerated distribution at the death of the plan participant which has adverse tax consequences. Estates and revocable trusts have zero life expectancies, and designating them as beneficiaries will result in lump-sum distributions. The preferred planning approach may be to stretch out the distribution period as long as possible, though the minimum distribution incidental benefit rule does place limitations on this practice.

Interview, Distribution, Individual retirement accounts, Qualified benefit plans, Goldberg, Seymour

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The American Institute of Certified Public Accountants (AICPA) Personal Financial Planning (PFP) Division

Article Abstract:

Few members of the public are aware of the Personal Financial Planning (PFP) professional designation of CPAs who have AICPA accreditation. Public education and attempts to gain state recognition of the PFP designation is part of an overall AICPA plan to increase the functions and professional standing of CPAs in the 21st century. Other AICPA focus areas are accreditation of other specializations and assurance services.

Services, Financial planning, states

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The Walton GRAT and marital deduction planning

Article Abstract:

The authors discuss issues regarding grantor retained annuity trust drafting and the qualifying of trust assets for the marital deduction in light of the US Tax Court's decision in Walton.

United States, Taxation, Laws, regulations and rules, Grantor trusts, Marital deduction

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