Your Clients’ IRA & Retirement Plan
TICKING TIME BOMBS!
(and this may be a great marketing opportunity for you!)
If you’re a financial advisor, CPA or estate planning attorney, you probably think that your clients’ IRA and retirement plan beneficiary forms were filed correctly and are in sync with their overall estate plans. Think again!
The beneficiary named on an IRA custodian’s or plan administrator’s books are often wrong! And the Supreme Court and the IRS say you can’t fix these errors after the owner-participant’s death!
These beneficiary errors happen for two reasons. Either they haven’t been checked up on for some time (which hopefully you will now be prompted to do!). Or, the choice of beneficiary was incorrect, either because it wasn’t consistent with their estate plan or you didn’t advise the client properly (which hopefully you now will!).
You could have a big liability on your hands - - or turn this into an opportunity to bring your clients back in for a review and generate even more business!
You need to know the most common beneficiary mistakes and how to avoid them (or fix them before it’s too late!):
- Failing to update the beneficiary designation form after a death or divorce
- Failing to provide for a spouse
- Failing to name a beneficiary
- Failing to name contingent beneficiaries
- Naming the estate as beneficiary
- Naming a non-qualified trust as the beneficiary
- Naming a potential spendthrift as beneficiary
- Naming an older relative as the primary beneficiary
- Naming a trust with older relatives who are primary beneficiaries
- Incorrect titling of an inherited IRA
- Rolling-over an inherited IRA into a personal IRA
- Failing to qualify for the charitable contribution income tax deduction
- And much more!
Join us and nationally renowned IRA expert, Robert Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA, for a 90-minute presentation entitled, “Retirement Plan Beneficiary Disasters and How to Avoid & Fix Them”.