Overview
The SECURE Act introduced significant changes to retirement planning, particularly in the distribution of IRA assets to heirs and beneficiaries. This course explains the rules for inherited IRAs—traditional and Roth—and the requirements for IRA owners and beneficiaries. Given the complexity and potential penalties for mishandling inherited IRA funds, clients need knowledgeable advisors to guide them in making suitable planning decisions.
Learning Objectives
- demonstrate understanding of who can be named an IRA beneficiary, and when and how this is done
- distinguish between designated IRA beneficiaries and non-designated IRA beneficiaries
- articulate the reasons why the tax laws impose minimum distribution requirements on IRAs
- define the differences between required distribution rules for traditional IRAs and those that pertain to Roth IRAs
- understand the changes brought about by the SECURE Act with regard to the options for taking inherited IRA assets
- recognize the distribution options available to spousal and non-spousal beneficiaries at the death of an IRA owner
Designed For
Life and health insurance producers and finance professionals
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