Wealth Preservation, Trusts and Estates

As a result of the more lenient Roth conversion rules, we have been reviewing the federal estate tax,

income tax and distribution issues relating to Roth IRA conversions with clients. I thought this article provided a nice synopsis of the distribution rules facing beneficiaries of a Roth IRA. Here is another article with some additional considerations. Please note that these articles are not exhaustive of the issues, but serve to give you a good starting point for understanding decisions to be made as an IRA owner and as someone inheriting an IRA.

Please feel free to contact Douglas L. Kaune, Esq. any time at 610-933-8069 or dkaune@utbf.com to discuss your particular IRA and ROTH IRA estate planning issues or issues you are facing as a beneficiary of one of these accounts to determine how best to proceed.
Wills * Trusts * Elder Law * Probate * Asset Protection * Power of Attorney * Estate Planning
Unruh, Turner, Burke & Frees, P.C. is a full service law firm with offices in Malvern, Phoenixville, West Chester Offices serving Wayne, Paoli, Downingtown, Radnor and the following counties: Chester County, Montgomery County, Delaware County, Bucks County, Berks County, Philadelphia County Pennsylvania (PA).

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Although you are permitted to name anyone or anything as the beneficiary of an Individual Retirement Account (IRA), there are many pitfalls that must be avoided. Naming a Trust as the beneficiary of an IRA is an important estate planning opportunity, but the Trust and the beneficiary designation language must be drafted properly to insure that the beneficiaries can receive maximum available tax deferral. I have the opportunity to see the mistakes that individuals make with their estate planning documents and beneficiary designations and know that these mistakes can cause hundreds of thousands of dollars of loss. The IRA Trust terms such as “stretch out”, “Measuring Life”, “conduit Trust” and “See Through Trust” can be confusing and complex. Read this article by Natalie Chaote to get a better understanding of the issues faced when naming a Trust as IRA beneficiary. While you are at it, check out this Natalie Choate IRA article here for some another interesting fact pattern

Contact Douglas L. Kaune, Esq. any time at 610-933-8069 or dkaune@utbf.com to review your estate planning and particular IRA beneficiay designation concerns and desires. We can then determine how best to approach this complex legal issue.

Wills * Trusts * Elder Law * Probate * Asset Protection * Power of Attorney * Estate Planning
Malvern, Phoenixville, West Chester Offices serving Wayne, Newtown Square, Media, Paoli, Frazier, Exton, Norristown, Radnor, Chester County, Montgomery County, Delaware County, Bucks County, Berks County, Philadelphia County Pennsylvania (PA).

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