Pub Date: 9/4/07
What’s in This Special Report?
This Special Report contains Natalie Choate’s 61-page seminar handout “Death & Taxes: the Inherited Retirement Plan,” plus Chapter 4 (“Disclaimers of Retirement Benefits,” 27 pages) from Natalie Choate’s book Life and Death Planning for Retirement Benefits (Ataxplan Publications, 6th ed. 2006). The Special Report is designed to help:
- Executors and administrators of estates where retirement benefits are either payable to the probate estate, or included in the federal gross estate for estate tax purposes.
- Beneficiaries who inherit a retirement plan.
The Special Report does not cover everything executors and beneficiaries need to know. It does cover some aspects that are unlikely to be covered in any other sources readily available to the executor and beneficiaries. Here are the matters this Special Report covers:
- The executor’s rights, responsibilities, and risks regarding: recharacterizing IRA/Roth IRA contributions/conversions made by the deceased participant; rolling over, post death, distributions received by the deceased participant during life; and minimum required distributions that the decedent was supposed to take during life but did not. This material is NOT covered in Life and Death Planning for Retirement Benefits.
- How and where to report retirement benefits on the federal estate tax return, and valuation concepts, including how the “alternate valuation date” applies. This material is NOT covered in Life and Death Planning for Retirement Benefits.
- The federal estate tax exclusion for certain “grandfathered” benefits. This material is NOT covered in Life and Death Planning for Retirement Benefits.
- 25 pages of “cleanup” ideas if the decedent’s beneficiary designation is less than ideal, including extensive material regarding the spousal rollover “through” an estate or trust. This material is NOT covered in Life and Death Planning for Retirement Benefits.
- How the estate computes MRDs for benefits that are payable TO the estate, how an estate or trust can transfer benefits out to the beneficiaries of the estate or trust, and nonspouse beneficiary rollovers. These matters are ALSO covered in Life and Death Planning for Retirement Benefits.
- A chart with the 6 differences between an “inherited IRA” and the individual’s “own” IRA.
- Everything you need to know about disclaimers of retirement benefits; this part of the Special Report is a reprint of Chapter 4 of Life and Death Planning for Retirement Benefits.
Who Needs This Special Report?
You need this if: You are the executor or administrator of an estate which includes retirement benefits (either in the “probate” estate or in the federal gross estate) or if you are a beneficiary (or you advise a beneficiary) and you need information regarding the above points.
You don’t need this if:
You are only looking for information about disclaimers of retirement benefits, and you already own Life and Death Planning for Retirement Benefits, because the disclaimer stuff in this Report is ALREADY covered in your book.
You have recently attended or are soon going to attend a Natalie Choate seminar where one of the topics is “Death and Taxes: the Inherited Retirement Plan,” because you got or will get almost all of the Special Report free as part of your seminar materials.