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List of Forms
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Table of Contents
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List of Forms by Chapter
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Chapter 1 — Introduction to the Use of Retirement Benefits in Estate Planning
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Chapter 2 — Income, Estate, and Other Tax Considerations
- I. [2.1] Introduction
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II. Income Tax Considerations
- [2.2] Overview
- [2.3] General Rule
- [2.4] Nondeductible Contributions
- [2.5] Calculation of Nondeductible Portion
- [2.6] Annuity Starting Date
- [2.7] Periodic Payments (Annuity and Installment Payments)
- [2.8] Nonperiodic Payments
- [2.9] Roth Individual Retirement Accounts and Roth 401(k) Plan Accounts
- [2.10] Qualified Distributions
- [2.11] Contributions, Conversions, and Roth Rollovers
- [2.12] Rollover Treatment
- [2.13] Inherited Individual Retirement Account Treatment After the Pension Protection Act of 2006
- [2.14] Eligible Rollover Distribution
- [2.15] Capital Gains/Ten-Year Income Averaging
- [2.16] Net Unrealized Appreciation on Employer Securities
- [2.17] Annuity Contracts
- [2.18] Life Insurance
- [2.19] Charitable Donation Exclusion
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III. Estate Tax Considerations
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IV. Generation-Skipping Transfer Tax Considerations
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V. Excise Tax Considerations
- VI. [2.27] Conclusion
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Chapter 3 — Required Minimum Distribution Rules: Who, What, When, and Why
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I. [3.1] Introduction
- II. [3.4] Terms and Definitions
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III. Background
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IV. [3.8] Distribution of the Required Minimum Distribution During the Participant’s Lifetime
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V. [3.13] Required Minimum Distribution After the Participant’s Death
- [3.14] Death Prior to the Required Beginning Date
- [3.15] No Required Minimum Distribution for the Year of Death
- [3.16] No Designated Beneficiary
- [3.17] Individual, Non-Spouse Is the Designated Beneficiary
- [3.18] Spouse Is the Designated Beneficiary
- [3.19] Multiple Designated Beneficiaries
- [3.20] Trust Is the Designated Beneficiary
- [3.21] Death After the Required Beginning Date
- [3.22] Payout of the Required Minimum Distribution for the Year of Death
- [3.23] No Designated Beneficiary
- [3.24] Individual, Non-Spouse Is the Designated Beneficiary
- [3.25] Spouse Is the Designated Beneficiary
- [3.26] Multiple Designated Beneficiaries
- [3.27] Trust Is the Designated Beneficiary
- VI. [3.28] Designated Beneficiary
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VII. [3.29] Spousal Rollover, Beneficiary Rollover, and Other “Rollovers”
- VIII. [3.35] Conclusion
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Chapter 4 — Beneficiary Designations for Individual Retirement Accounts and Qualified Plans
- I. [4.1] Introduction
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II. Client’s Goals and Tax Factors
- [4.2] Client’s Goals in Planning for Individual Retirement Accounts
- Tax Factors Affecting Individual Retirement Accounts
- [4.3] Minimum Distribution Rules
- [4.4] Living Client
- [4.5] Year of Client’s Death
- [4.6] After Client’s Death
- [4.7] Designated Beneficiary
- [4.8] Trust as Beneficiary of Individual Retirement Account: The Trust Look-Through Rule
- [4.9] September 30 Date
- [4.10] Multiple Beneficiaries: The Separate Account Rule
- [4.11] Income in Respect of a Decedent
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III. Beneficiary Designations for Individual Retirement Accounts
- [4.12] Beneficiary Designations for Married Client
- [4.13] Relinquishing Control of Individual Retirement Account to Surviving Spouse After Death: Spouse Is Outright Beneficiary of Individual Retirement Account
- [4.14] Retaining Control of Individual Retirement Account After Death: Qualified Terminable Interest Property Trust Is Beneficiary of Individual Retirement Account
- “All Income” Requirement
- [4.15] In general
- [4.16] Revenue Ruling 2006-26
- [4.17] State principal and income acts
- [4.18] Drafting approaches to satisfy all income requirement
- [4.19] Simple approach: Pay all income out of individual retirement account to surviving spouse
- [4.20] More complicated approach: Spouse may withdraw income from individual retirement account
- [4.21] Evaluation of two QTIPing approaches
- [4.22] Naming a Qualified Terminable Interest Property Trust as Beneficiary of an Individual Retirement Account
- [4.23] Income Tax Problem
- [4.24] Conduit Trust
- [4.25] Individual Retirement Account Itself Is a Qualified Terminable Interest Property Trust
- [4.26] Alternative to QTIPing the Individual Retirement Account: Give Individual Retirement Account in Shares to Spouse and Children
- [4.27] Portability and Its Impact on Beneficiary Designations
- [4.28] Funding Bypass Trust with Individual Retirement Account
- [4.29] Disclaimer Approach
- [4.30] Client’s Revocable Trust or Testamentary Trust; Rule of Thumb
- [4.31] Pitfalls of revocable trust as beneficiary of individual retirement account
- [4.32] Postmortem individual retirement account planning
- [4.33] Joint Trust Approach
- [4.34] Noncitizen Spouse
- [4.35] Individual Retirement Account as Community Property
- [4.36] Individual Retirement Account Participant Dies First
- [4.37] Spouse Dies First; Individual Retirement Account Participant Is Still Alive
- [4.38] Designating a Secondary Beneficiary
- [4.39] Beneficiary Designations for Unmarried Client
- [4.40] Charitable Giving with Individual Retirement Accounts
- Outright Gift to Charity at Death
- [4.41] Entire Individual Retirement Account to Charity
- [4.42] Part of Individual Retirement Account to Charity; Percentage or Dollar Amount
- [4.43] Split-Interest Trusts
- [4.44] Regular Trust
- [4.45] Charitable Remainder Trust Under Internal Revenue Code §664
- Use of Beneficiary Designation Forms
- [4.46] Poorly Drafted Commercial Forms
- [4.47] Solution: Custom-Drafted Beneficiary Designation
- [4.48] Tax Apportionment Problems
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IV. [4.49] Beneficiary Designations for Qualified Plans
- V. [4.53] Roth Individual Retirement Accounts
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Chapter 5 — Naming a Trust as a Beneficiary
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Chapter 6 — Charitable Giving with Retirement Plan Assets
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I. Introduction
- II. [6.3] Income in Respect of a Decedent
- III. [6.4] Required Minimum Distribution Rules
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IV. [6.5] Different Types of Charitable Organizations
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V. Lifetime Gifts to Charity
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VI. Basic Testamentary Gifts to Charity
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VII. [6.17] Testamentary Gifts to Charity Through an Estate or Trust
- [6.18] Trusts and Estates with Charitable and Noncharitable Beneficiaries and the Required Minimum Distribution Rules
- [6.19] Prohibiting Certain Uses of Retirement Benefits
- [6.20] Charity Is Remainder Beneficiary
- [6.21] Conduit Trust
- [6.22] Form of Conduit Trust
- [6.23] Trust Income Tax Issues
- [6.24] No Distributable Net Income Deduction for Income Distributed to Charity
- [6.25] The Separate Share Rule
- [6.26] Trust Requires Funding Charitable Gift with Retirement Benefits
- [6.27] Trustee May Choose Funding
- [6.28] Pro Rata Distribution Required
- [6.29] Assignment of Entire Plan
- [6.30] Distribution to Charity in Year Other than Year of Receipt of Proceeds by Trust
- [6.31] Charitable Remainder Trusts
- [6.32] Credit Shelter Charitable Remainder Trusts
- [6.33] Charitable Lead Trusts
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VIII. Postmortem “Planning”
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IX. Miscellaneous
- X. [6.39] Bibliography
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Chapter 7 — Qualified Domestic Relations Orders and Spousal Rights
- I. [7.1] Introduction
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II. Qualified Domestic Relations Orders
- [7.2] Qualified Domestic Relations Orders — The Exception to the Employee Retirement Income Security Act of 1974 Spendthrift Provisions
- [7.3] Overview of Applicable Law and Guidance
- [7.4] Effective Date of Qualified Domestic Relations Order Rules
- [7.5] Employee Benefit Plans to Which Qualified Domestic Relations Orders Apply
- [7.6] Alternate Payees
- [7.7] Qualified Domestic Relations Order Requirements
- [7.8] Administrative Procedures for Qualification
- [7.9] United States Department of Labor Interim Final Regulations
- [7.10] Subsequent Domestic Relations Orders
- [7.11] Timing of Domestic Relations Orders
- Plan Features To Consider in Drafting Qualified Domestic Relations Orders
- [7.12] Defined-Contribution Plan
- [7.13] Retroactive Assignment Dates in Defined-Contribution Qualified Domestic Relations Orders
- [7.14] Defined-Benefit Plan
- [7.15] Divorce Decree as a Qualified Domestic Relations Order
- [7.16] Pitfalls to Qualification
- [7.17] Qualified Domestic Relations Order After Death of Participant
- [7.18] Contrary Beneficiary Designations
- [7.19] Qualified Domestic Relations Order Modification
- [7.20] Bankruptcy of Participant
- [7.21] Receipt of Benefits
- [7.22] Dividing the Benefit — Shared Payment or Separate Interest
- [7.23] Taxation of Benefits
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III. Qualified Retirement Plan Obligations Regarding Spouses