Analyzing retirement plan distributions is hard enough without the uncertainty of a global pandemic. The changes implemented by the Secure Act and Cares Act add another layer of complexity for taxpayers nearing retirement or reevaluating distribution plans in light of current market conditions. This course will review the retirement plan distribution changes implemented by the Secure Act and Cares Act and analyze various distribution options based on client circumstances and goals.
Publication Date: June 2020
Designed For
Attorneys, CPAs, and Enrolled Agents.
Topics Covered
- Legislative history of the Secure Act and Cares Act
- Retirement plan contribution limits
- Retirement plan distribution changes
- Retirement saving during unstable market conditions
- Withdrawal options for retirement plan beneficiaries
- Estate planning with retirement accounts
Learning Objectives
- Describe the changes implemented by the Secure Act and Cares Act
- Recognize how to analyze employees' options for withdrawing retirement funds with an eye toward overall tax savings
- Identify the options available to beneficiaries inheriting retirement accounts
- Recognize how to recommend estate planning techniques to achieve client goals in light of modified withdrawal options
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of retirement plans.
Advance Preparation
None
Instructor
Klaralee R. Charlton
Klaralee Charlton is a Partner at 3i Law in Denver, Colorado. She practices fiduciary tax, estate administration, and business transactional law. As part of her practice, she guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. Klaralee also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She is an active member of the Colorado Bar Association, Tax Section and Adjunct Profession at the University of Denver, Graduate Tax Program.
She earned her J.D. in 2011 from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver in 2013, and her B.A. in political science in 2009 from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.