EPCRI: Can a CRT Stretch an Inherited IRA?
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Estate Planning Council of Rhode Island
Karen Bacon, MBA, CFP® , President; Ashley Abbate Macksoud, CFP®, CDFA®, Vice President; Judith Higgins, CPA, Treasurer; Bridget Mullaney, Esq., Secretary; Robert Tyler Jr., Past President
Karen Bacon, MBA, CFP®; Ashley Abbate Macksoud, CFP®, CDFA®; Judith Higgins, CPA; Bridget Mullaney, Esq.; Robert Tyler Jr.; Caitlyn R. Beauregard; Anthony R. Mignanelli Esq.; Joanne Speroni-Woody
Can a CRT Stretch an Inherited IRA?
When: November 15, 2021
The SECURE Act generally eliminated the “stretch IRA,” whereby a beneficiary of an inherited IRA could stretch distributions over that beneficiary’s remaining life expectancy. Can naming a tax-exempt charitable remainder unitrust as the beneficiary of a retirement account provide comparable tax benefits? What are the rules, the traps, and the solutions?
Christopher Hoyt is a Professor of Law at the University of Missouri (Kansas City) School of Law where he teaches courses in the area of federal income taxation, charitable organizations and retirement plans. Previously, he was with the law firm of Spencer, Fane, Britt & Browne in Kansas City, Missouri. He received an undergraduate degree in economics from Northwestern University and he received dual law and accounting degrees from the University of Wisconsin. Professor Hoyt has served as the Vice- Chair of the RPTE Charitable Group (American Bar Association) and he currently serves on the editorial board of Trusts and Estates magazine. He is an ACTEC fellow and has been designated by his peers as a "Best Lawyer". He was elected to the Estate Planning Hall of Fame by the National Association of Estate Planners & Councils.