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2023 Beneficiary designations in retirements accounts: Protecting a lifetime of savings

Total Credits: 1.2 Self Study

Practice Area:
Trusts, Estate Planning & Probate
Audio and Video


Recording available after original program date, 4/11/2023

Other than a personal residence, the largest single asset class consists of financial assets. These accounts may be 401(k)s or IRAs, annuity or insurance contracts, or a variety of brokerage or bank accounts. The crucial planning aspect of these types of accounts or contracts is that they can be transferred through beneficiary designations. Though a seemingly simple expedient, beneficiary designations vary among types of accounts and each comes with its own nuances – and traps, which can lead to severely adverse tax and practical outcomes.  This program will provide you with a real-world guide to understanding, reviewing, and drafting beneficiary designations in trust and estate planning.

•    How beneficiary designations vary depending on the type of custodial account involved
•    Differences among retirement accounts, bank accounts, brokerage accounts, life insurance policies
•    How designations differ depending on the type of beneficiary – individual, institutional, trust, etc.
•    “Payable on Death” agreements for bank accounts
•    Practical guidance on how designations are made & common drafting traps

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.


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