Description
Gain a thorough understanding of and inherited retirement accounts and advise your clients with confidence.
Retirement accounts such as 401(k)s and IRAs have become popular vehicles for retirement savings and building wealth. It is inevitable that you or your client will inherit one. Unlike most other inherited assets, retirement accounts have tax consequences.
This presentation will help you understand the tax consequences and identify what you need to know about the deceased account owner, the beneficiary, and the type of planaccount to properly determine when distributions must occur. You will also learn how to properly calculate the required minimum distributions and what happens if you miss a required distribution and how to correct.
Date: 2022-12-14 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to discuss how the age of the deceased impacts the timing of distributions and the at least as rapidly rule.
* You will be able to explain how to calculate the required minimum distributions, including which IRS tables to use and where to find them.
* You will be able to identify if the beneficiary is an eligible designated beneficiary or an ineligible designated beneficiary.
* You will be able to describe how the timing of Roth account distribution may be different from traditional accounts.