IRA planning is complex and requires a mastery of property law, income tax, estate tax and finance. Some planning techniques focus on financial engineering, such as converting traditional accounts to a Roth account or increasing taxable distributions to move funds to life insurance. Other planning techniques involve a significant charitable/legal component, such as leaving funds to variations of charitable remainder trusts.

This class covers the all of the leading tax planning techniques you'll need to master for 2021 and beyond:

Overview of Key Considerations

• Income, Estate and Gift Taxes
• Generation Skipping Transfer Taxes
• Income §691(c) Deduction and Its Failures
• State Estate Taxes
• State Income Taxes

Overview of SECURE

• 10-Year Rule
• Exception Beneficiaries

Roth Conversions

• The SECURE Act’s ten-year payout rule and the high tax rates to follow
• What the Lawyer needs to know about the strategic aspects of conversions and Estate Planning Benefits
• 2021 Roth Update with Higher Income and Estate Rates
• Critical Roth conversion concepts after SECURE
• Roth conversions for rate arbitrage compared to traditional IRAs to trusts
• 10+ Reasons to convert to a Roth IRA
• Estate tax considerations
• Why a Roth conversion is much better when an estate tax exists
• “Stretch” Roth IRAs for eligible designated beneficiaries
• Roths for SNTs and asset protection trusts
• Using insurance to preserve post-death “stretch-out”
• Why a conversion is a “Bet-to-Live” Strategy and why insurance is a “Bet-to-Die” Strategy
• Easy to read charts, graphs and tables

Charitable Remainder Trust Strategies

• How IRA-CRTs can simulate the longer payout and still benefit charity
• Understand the Mathematics of the IRA-CRT with and without an estate tax
• Understanding the income tax aspects of CRTs
• Converting ordinary income to long-term capital gains
• Designing IRA CRTs for spouses with a 100% marital and charitable estate tax deduction
• Designing IRA CRTs for children and grandchildren including GST issues
• The reasons why the IRA-CRT is a better decision now more than ever and why insurance planning compliments CRT planning
• Running the numbers to compare strategies and why the CRT really works for charitably inclined clients
• Why the 691(c) deduction fails to truly benefit the beneficiaries
Insurance Strategies
• Powerhouse Life Insurance Strategies
• Understand the Income and Estate Tax-Free Benefits of IRA relocation (i.e., utilizing IRA distributions to Purchase Life Insurance)
• Learn Advanced Insurance Strategies Including Policy Designs to Maximize ROI
• Debt financed life insurance strategies

State IRA Income Tax Strategy Trusts

• Which “home” states allow this strategy
• How the SCOTUS opinion in Kaestner may impact this strategy
• How the Minnesota Supreme Court opinion in Fielding impacts this strategy
• How DNI transfers income from a trust to beneficiaries equally
• The throwback rules of California and New York
• Tax treatment of capital gains after IRA withdrawals from both regular and Roth IRAs

Multi-generational Accumulation Trust Sprinkling

• The operation of the DNI Rules of Subchapter J which allow you to shift income
• The 65-Day Rule
• Why 10 years is really 11 tax years
• State law fiduciary accounting income issues
• State income tax issues
• The math of sprinkle trust strategies
• When charities can (in some cases, should?) be added and why

Your certificate will be awarded upon successful completion of the course requirements which include a video lecture that will be followed by a 10 question final exam.