Designating IRA Beneficiary Critical in Estate Planning


Re-Broadcast on December 18, 2017

Retirement accounts often represents a sizable portion of a client’s net worth, and properly designating your client’s IRA and other retirement account beneficiaries is critical in successfully implementing any estate plan. Nonetheless, client’s and their advisor’s routinely drop the ball on both the successful design and implementation of retirement plan beneficiaries within their plans. When an IRA does not have a designated beneficiary, most plans require the decedent’s estate to be the default beneficiary. This usually produces unfavorable tax results. Strategies for avoiding this result can significantly improve the client’s wealth transfer, and provide the estate attorney with awesome leverage for further plan integration.

This program will examine important considerations when completing an IRA beneficiary form, discuss plan design and implementation, and dealing with post- mortem failures in plan implementation.

Upon completion of the program, participants will be equipped to ask and answer the following questions:

•   Who should/will be the primary and contingent beneficiaries?
•   How long can the beneficiary defer withdrawals from the account and the attendant income tax liability?
•   Is there a compelling reason to name a trust as a beneficiary?
•   Do any retirement account proceeds passing to a spouse, in trust, qualify for the marital deduction?
•   What is the most tax efficient source of payment for estate taxes on the retirement account?

Key topics to be discussed:

•   IRA Overview
•   How and When to name a Revocable Trust in estate planning
•   SCOTUS Clark v. Rameker Decision on Inherited IRAs
•   Implications for Inherited IRAs in Non-Bankruptcy Cases
•   Rollover Rules and Tactics
•   Recent IRA Guidance on Inherited IRAs
•   IRA Required Minimum Distribution Rules
•   Multiple Beneficiaries: Problems and Solutions
•   IRA Trusts

Date / Time: December 18, 2017

•   2:00 pm – 4:00 pm Eastern
•   1:00 pm – 3:00 pm Central
•   12:00 pm – 2:00 pm Mountain
•   11:00 am – 1:00 pm Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date.


jeffrey-katzJeffrey D. Katz, Esq., a native of Baltimore, MD, received his undergraduate degree from the American University (Washington, DC) — BS Political Science/Justice (1994), law degree from the Chicago-Kent College of Law in 1997, and Masters of Taxation (LLM) from the University of Miami (Coral Gables, FL) in 1998. Mr. Katz academic record placed him on the Dean’s List for second and third years of Law School, and he was awarded the CALI award for outstanding achievement in Advanced Tax Research at the Juris Doctorate Level, and in Corporate Tax at the LLM level.

As a tax and business attorney, Mr. Katz began his career with the accounting firm KPMG/Peat Marwick, LLP (now known as KPMG, LLP) at the firm’s Mid-Atlantic Tax Practice, providing Corporate, M&A, and Asset Protection advice to star-studded Fortune 500 clientele, inclusive of MCI/Worldcom, Sodexho/Marriott, and Hechinger Co., local business such as First Maryland Bancorp (now M&T Bank), B.F Saul Co. (Chevy Chase Bank), Crestar Bank, N.A. (now SunTrust), Genesis HealthCare (now NeighborCare) and ACSI, Inc. (E.Spire Communications), and international clients such as Wartsila N.S.D. Since entering private law practice, Katz has continued to provide high-value representation in to corporate and individual clients alike, whether based nearby or from all corners of the globe.

This background has equipped Mr. Katz to help a roster of national and international clients, both individual and corporate, grapple with a range of legal and business issues. He handles business formations, business sales, and business disputes, commercial real estate transactions, complex estate planning, elder care issues, and state and federal tax disputes.

Mr. Katz’s track record of success is not limited to the boardroom, but also extends to administrative law hearings before the Internal Revenue Service, Comptroller’s Office, MD Department of Labor Licensing and Regulation, Small Business Administration, US Department of Labor, and various other state, local, and administrative agencies.

Mr. Katz is a member of the Maryland bar, the Montgomery County Bar Association, the Maryland State Bar Association, and is admitted to practice before the Maryland District and Circuit Courts, the Maryland Federal District Court, and the United States Tax Court.
Mr. Katz is a frequent contributor to publications and periodicals, with recent articles having appeared in Bloomberg/BNA, and The Washington Business Journal, and a frequent speaker for NBI and MyLawCLE.

Areas Of Practice
Trusts & Estates
Tax Whistleblowers and Tax Qui Tam
Wills & Probate
Exempt Organizations
Capital Services

Bar Admissions
Maryland, 1997
U.S. Tax Court, 2003
U.S. District Court, 2007

University of Miami School of Law, Coral Gables, Florida
LL.M. – 1998
Honors: CALI Excellence for the Future Award– Corporate Tax
Chicago-Kent College of Law, Illinois Institute of Technology, Chicago, Illinois
J.D. – 1997
Honors: Dean’s List
Honors: CALI Excellence for the Future Award– Advanced Tax Research
Honors: Phi Alpha Delta
American University, Washington, District of Columbia
B.A. – 1994
Honors: Dean’s List
Honors: Delta Chi
Honors: District of Columbia Advisory Neighborhood Commissioner 3D, 1993-1994

Professional Associations and Memberships
Maryland State Bar Association, Member, 1997 – Present
Montgomery County Bar Association, Member, 2000 – Present

CLE Accreditation:
mylawCLE seeks approval in all states except VA.

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CLE 2.40 – NY
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N/A – VA
CLE 2.40 – VI
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CLE 2.00 – WA
CLE 2.40 – WI
CLE 2.40 – WV
CLE 2.00 – WY

Accreditation Policy
myLawCLE will seek credit where attending attorneys are primarily licensed for all of its live webinars and live teleconferences, except in states which allow for reciprocity (see reciprocity section below). Credit for CLE in a self-study format is sought for in most states; however, some states do not allow for CLE credit to be earned in a self-study format (see the self-study section below). Many states typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. Credit hours granted are subject to approval from each state.

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On-demand CLE
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