How Do You Advise Your Clients
With Sizeable IRAs (and Draft for Them)
After the SECURE Act?

The new “10-Year Payout” rule created by the SECURE Act for inherited IRAs appears on its surface, to be quite simple.  But, a deeper dive into this new law reveals great complexity - - both in what planning advice is best for each client and then implementing that planning through trust and beneficiary form drafting.

If you’re an estate planning attorney, and you have clients with IRAs of between $200,000 to $1 million (or more), you will definitely want to join two of the nation’s leading authorities on IRA planning and drafting beneficiary trusts, attorneys Philip J. Kavesh and Ed Morrow, on this timely 2-part teleconference entitled, “What Every Attorney Needs to Know to Advise Clients and Draft Under the SECURE Act”.

On the first 90-minute presentation entitled, “An Advanced-Level Analysis of the SECURE Act”, to be held on Tuesday, March 3, 2020 at 9am Pacific Time (12pm Eastern Time), you will find out:

  • What are the “guidelines” now for when IRA beneficiaries should receive distributions outright or in trust?
  • If the answer is in trust, what are the “guidelines” for when an accumulation with “spray features” makes sense?
  • Should such a spray trust be a part of the IRA owner’s Living Trust or part of a Standalone Beneficiary Trust?
  • What should you now do with all of those Standalone Beneficiary Trusts you’ve already drafted? (Revoke or amend them?)
  • If you choose to amend an existing Standalone Beneficiary Trust, what key provisions should be changed and how?
  • Do IRA Beneficiary Designations Forms now need to be changed and how?
  • What are the special considerations and planning options for “eligible designated beneficiaries” who may still qualify for life expectancy “stretch” of RMDs?
  • For EDBs, should you use conduit, accumulation or some type of hybrid trust?
  • How does the “ghost life expectancy” rule now work and when would it be better than the 10-year rule? (And how can you take advantage of it?)
  • What additional questions have been left unanswered by the SECURE Act that you need to plan for?

The second 90-minute presentation, entitled, “The Traps & Tricks of Drafting IRA Trusts & Beneficiary Forms After the SECURE Act”, will be held on Thursday, March 12, 2020 at 9am Pacific Time (12pm Eastern Time).  During this presentation, you will learn:

  • How do you draft an accumulation trust to both maximize income tax savings and asset protection?
    • Using discretionary “HEMS” language with special “directions”?
    • Using Limited Powers of Appointment, with special “directions?”
    • What about adding “BDOT” withdrawal powers?
  • For any beneficiaries that may still qualify for stretchout, how do you draft “EDB sub-trusts” to achieve maximum tax savings and asset protection?
    • What are the special multiple beneficiary trust rules you need to address and how?
  • What other beneficiary trust provisions now need to be revised and how?
  • What special “flex” provisions (such as “Trust Protector” and “Toggle Switch” language) should you now put in a Living Trust or standalone Beneficiary Trust to adapt to later IRS guidance, as well as changed circumstances and needs of individual beneficiaries?
  • How should your clients update their BDF forms?
  • And much more, including some helpful model trust and form language!

This 2-part series will be chock full of practical, “down-in-the-trenches” information that you will able to use right away in your practice to better service your clients.

Your registration includes: Participation on both live 90-minute teleconferences (including Q&A) and PDF handout materials. The MP3 audio recording and/or unedited PDF transcript of the program can be added to your registration during the checkout process for an additional fee.

  • Program Title: What Every Attorney Needs to Know to Advise Clients and Draft Under the SECURE Act
  • Speaker: ,
  • Date: Tuesday, March 3, 2020
  • Time: 9:00 am PT (12:00 pm ET)
  • Duration: 90 minutes
  • and
  • Date: Thursday, March 12, 2020
  • Time: 9:00 am PT (12:00 pm ET)
  • Duration: 90 minutes

Edwin P. Morrow III

J.D., LL.M., MBA, CFP®, CM&AA®
Edwin P. Morrow III

Edwin Morrow, J.D., LL.M., MBA, CFP®, CM&AA® is a manager of Wealth Strategies at Key Private Bank.  As one of Key’s national wealth specialists, Ed works with local Key Private Bank financial advisory and trust teams nationwide.  He is also national manager of wealth strategies communications for the private bank.  He assists with in-depth reviews of high net worth clients’ estate, trust, asset protection and tax planning in order to better preserve, protect and transfer their wealth in a tax efficient manner.  Ed has been with Key since 2005.

He was previously in private law practice in Cincinnati, Ohio, concentrating in taxation, probate, estate and business planning.  Other experience includes drafting court opinions for the U.S. District Court of Portland, Oregon as a law clerk.

Education:

  • Bachelor of Arts (B.A.), History, Stetson University
  • Juris Doctorate (J.D.), Northwestern School of Law at Lewis & Clark College
  • Masters of Law (LL.M.) in Tax Law, Capital University Law School
  • Masters of Business Administration (MBA), Xavier University

Professional Accreditations:

  • Licensed to practice in all Ohio courts, U.S. District Court of Southern Ohio and U.S. Tax Court
  • Board Certified Specialist  through Ohio State Bar Association in Estate Planning, Trust and Probate Law
  • Certified Financial Planner (CFP®), Certified Merger and Acquisition Advisor (CM&AA®)
  • Non-Public Arbitrator for the Financial Industry Regulatory Authority (FINRA)

Philip J. Kavesh

J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law
Philip J. Kavesh

Philip J. Kavesh is a nationally recognized attorney, authority, speaker, educator and technical innovator in estate planning.

Phil has earned significant recognition and accolades over his approximately 33 years of practice as an estate planning attorney. Phil holds a Master’s Degree (LL.M.) in Tax Law and is a California State Bar Certified Specialist in Estate Planning, Trust and Probate Law. He also has been awarded the Certified Financial Planner and Chartered Financial Consultant designations. Phil has served his fellow estate planning and financial professionals by teaching in the Golden Gate University Graduate Tax Degree and Certified Financial Planner programs. Phil was also selected by his peers and served on their behalf as the California Legislative Liaison for the International Association of Financial Planners and has represented the estate planning attorney community in testifying before State legislative committees seeking to regulate the estate and financial planning professions and to eliminate “trust mills”. In fact, several of the practice forms and client disclosure pieces created by Phil have been incorporated into new legislation and regulations. Furthermore, Phil was one of three attorney co-founders of the American Academy of Estate Planning Attorneys.  He has also been an honorary member of the National Network of Estate Planning Attorneys and is an active member of WealthCounsel.

Phil has been recognized and quoted as an estate and tax planning authority in numerous national, prestigious publications, including Money Magazine, Investors Daily, Personal Finance Magazine, Los Angeles Times, Los Angeles Business Journal, Consumer Reports Magazine, Journal of Retirement Planning, Ed Slott’s IRA Newsletter, Investment Advisor Magazine, Life Insurance Selling, and PacQuarterly. He has appeared on several television and radio programs and his weekly TV show, “Preserve Your Estate”, was broadcasted on local Los Angeles TV for over six years.

Additionally, Phil has created or co-created numerous technical advances in estate planning, including the Personal Asset TrustSM and the IRA Inheritance Trust®. His unique legal documents have been licensed to hundreds of attorneys all across the country, through his company, The Ultimate Estate Planner, Inc.  He has also authored or co-authored several outstanding consumer publications including “The Ten Biggest Mistakes People Make When Setting Up a Living Trust”, “The Top Ten Estate Planning Mistakes Wealthy People Make”, and “21st Century Wealth”.

Even more impressive are Phil’s accomplishments as a speaker and educator of the public and his professional peers. Phil has personally presented over 2,000 seminars on estate, tax and financial planning to the general public, to various major corporations and their employees, and to CPAs, financial planners and attorneys.  His renowned seminars have been duplicated and sold to thousands of estate planning professionals and financial advisors in the U.S. and Canada.  Phil has devoted substantial efforts to improving the standards in the estate planning and financial planning industries by personally training over 4,000 attorneys and financial planners.

IMPORTANT NOTICE REGARDING CE CREDIT

The Ultimate Estate Planner, Inc. and the presenter are not registered Continuing Education Sponsors and this program is not pre-approved for continuing education credit for any state or regulatory agency.

However, please note that each program includes a Certificate of Completion and, depending on the license and the regulatory agency for which governs a participant’s CE credit, some professionals may be able to self-report his or her participation and receive credit. It is the responsibility of the participant to complete any process necessary to seek self-reported CE credit for his or her participation. By registering for a teleconference (or purchasing on On-Demand program), you understand that CE credit is not guaranteed or warranted by the presenter or The Ultimate Estate Planner, Inc.

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