CLE on Beneficiary Designation Problems

PANELISTS:
Robert S. Keebler, Keebler & Associates, LLP, Green Bay, WI
Kristen M. Lynch, Fowler White Burnett, Ft. Lauderdale, FL

PROGRAM INFORMATION

TextIt is currently estimated that there are over Five Trillion Dollars currently invested in Individual Retirement Accounts (IRAs) and that these assets comprise approximately 10% of all household financial assets. IRAs, and a staggering amount of tax-deferred employee benefit accounts (which are eligible at some point be rolled into the IRAs) now constitute a meaningful part of estate planning and post mortem planning discussions. Both IRA assets and plan assets are supposed to pass by way of beneficiary designation . . .and yet there is an ever-increasing number of situations in which the beneficiary designation does not appear to name the intended beneficiary, has some execution flaw, or has completely gone missing.

The purpose of this informative webinar is to provide some background on Federal and common State laws that impact IRAs and qualified plans, as well as contractual issues.

The speakers will discuss the types of beneficiary problems that can arise and will discuss various options and approaches towards correcting the problems or mitigating the damage caused, including:

• The impact of ERISA and REA on plan beneficiary designations;
• The deadlines after death within which actions should be taken;
• How to preserve or salvage tax deferral/life expectancy if possible;
• Spousal IRA concerns – community property, divorce settlements, elective share;
• Undue influence and beneficiary disputes – or the IRA version of a will contest;
• Post-mortem possibilities if the named beneficiary has “Special Needs”;
• The issues presented when trusts are named or utilized inappropriately;
• The constant balance between best possible tax deferral and getting the IRA into the right hands; and
• Best practices 

Register now for this program using your ABA ID (00954888).