Asset protection for retirement plans and IRAs

Article Abstract:

The author discusses the law and practical methods concerning protection of IRA and retirement plan assets. ERISA protections, state law protections, and spendthrift trust protection are discussed.

States, Estate Planning, Usage, Spendthrift trusts

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A sorry 'estate' of affairs for qualified plan and IRA benefits: naming an estate as beneficiary

Article Abstract:

Clients who have IRAs and qualified plans should not names their estates as beneficiaries of these retirement benefits. Naming an estate as beneficiary can result in a loss of tax deferral, create additional federal fiduciary income tax liability for the estate, or impose income taxes on the estate when it distributes pecuniary bequests. Estates can address this problem by using the five-year rule, averaging lump-sum distributions, or by using post-mortem disclaimers to take advantage of plan provisions or spousal rollovers.

Retirement planning, Beneficiaries

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Determining the best exit strategy from a split-dollar plan

Article Abstract:

Split-dollar life insurance plans are useful means of compensating key employees, but are complex and may ultimately require termination. Termination or exit strategies should be anticipated when initiating such plans due to tax and other built-in costs which may make the plans inefficient. Exit strategies generally include the employee taking over all of the premium payments which were formerly split with the employer. Endorsement and collateral assignment plans require differing exit strategies. Policy crawlouts and rollouts are increasingly important and useful strategies.

Life Insurance, Direct Life Insurance Carriers, Split-dollar life insurance, Split dollar life insurance

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