The Standalone IRA Inheritance Trust®
Still an Effective IRA Planning Strategy for Your Clients
Following the SECURE Act 2.0!
One of the biggest breakthroughs in estate planning in the past few years was the creation of a standalone trust instrument for IRAs, 401(k)’s and other retirement assets. This trust strategy, which effectively is described as a “Living Trust for an IRA“SM, was not only created to provide better estate planning options for retirement assets, but the Internal Revenue Service also gave its stamp of approval on the strategy back in September 2005 (see PLR200537044).
Estate planning attorney, Philip Kavesh, developed the IRA Inheritance Trust® and has not only drafted thousands of these trusts for his clients, but he’s also tested the strategy through the proper post-death administration of this trust for his clients as well. And now, this unique planning strategy is available for other attorneys across the country as well through our IRA Inheritance Trust® Legal Document Form & Training Package.
In December 2019, the passing of the SECURE Act—one of the most significant changes to come to retirement and IRA planning in decades—dramatically altered the way we plan for our clients and their IRAs. IRA Trusts still are an effective strategy for certain clients with needs for both income tax reduction and predator protection. With the help of nationally renowned attorney, Ed Morrow, this document has now been updated and upgraded to reflect the necessary changes for the SECURE Act 2.0 of 2022.
See the Details tab for more information about what is included in this package.
What’s included in the IRA Inheritance Trust® Legal Document Form Package?
The IRA Inheritance Trust® Legal Document Form Package comes with the complete, modifiable standalone IRA Beneficiary Trust with all of the provisions needed to draft this trust for clients. The Package includes:
- Complete Married & Single IRA Trust Document (Updated for the SECURE Act), PLUS…
- Manual Inserts
- Beneficiary Designations
- IRA Trust Certification
- IRA Trust Flow Chart
- IRA Trust Introduction
- Forms & Charts
- Client Interview Form
- Converting Shares
- IRA Trust Drafting Decision Chart
- Example BDFs & Hold Harmless Language
- Trust Disclosure
- Uniform Distribution Table & Traditional IRA Distribution Chart
- Related PLRs & Articles
- Training Materials
- “How to Draft IRA Trusts Using Our Form” Technical Training with Phil Kavesh
- A drafting video demonstration with Phil’s Senior Estate Planning Paralegal
- All forms/handouts used in training Trust Documents (for Married & Single)
All of the legal document forms come in a modifiable Microsoft Word format for you to be able to easily modify, edit and assemble (or add to your existing word processing software). NOTE: This is NOT a software program and there are no automated/macro-type functions with our forms. While drafted for Mr. Kavesh’s law firm based out of California, this strategy is based on federal law and has applicability to all states.
Below are some educational programs, products and resources that you might also be interested in:
Articles & Private Letter Rulings:
- Private Letter Ruling 200537044 (approving the standalone IRA Inheritance Trust®)
- PLR200537044: Defective or Just Misunderstood?
- Standalone IRA Trust vs. The Living Trust
- Using Standalone or Separate Trusts Solely to Receive Retirement Benefits (Journal of Retirement Planning – November/December 2007)
- New IRS Ruling Validates the IRA Inheritance Trust® (Robert Keebler – 2005)
- The IRA Inheritance Trust® Gains IRS Approval (Ed Slott’s IRA Advisor – January 2006)
- Ensuring the Stretchout (Journal of Retirement Planning – July/August 2007)
- An Effective Trust Solution for IRA Beneficiary “Stretch-Outs” (Life Insurance Selling – November 2005)
- The Home Stretch (Investment Advisor – October 2005)
- A Brand New Strategy to Protect Your Family: The IRA Inheritance Trust® (Tax Hotline – April 2006)