IN-PERSON PASSHOLDERS:
You may use your Pass to register for the live simulcast at no charge.
ONLINE
Wednesday, April 27, 2022
9:00 AM - 4:40 PM
| REGISTRATION IS OPEN FOR BOTH IN-PERSON AND ONLINE ATTENDANCE If in-person attendance becomes unavailable, online access will automatically be available through your website account. In-Person Passholders – You may use your Pass to register for the live simulcast at no charge. COVID safety guidelines for this event may be found HERE. |
A key component for retirement planning involves an analysis of a client’s retirement accounts and the amount of their Social Security benefits. The SECURE Act influenced our ability to save money for retirement and has altered how we will use the funds over time. While some of the SECURE Act’s provisions were administrative in nature or intended to raise revenue, most of the changes were taxpayer-friendly measures designed to boost retirement savings. Thus, these changes have had a significant impact on estate planning. Also, knowing the amount of your client’s monthly Social Security benefit and deciding when they should start receiving those benefits are essential for determining how these benefits fit into an overall estate plan. This all-new seminar will take a deep dive into retirement accounts and Social Security benefits and will provide tips and best practices for helping your clients navigate these complex programs to create an effective overall estate plan.
OUR FACULTY WILL DISCUSS:
SPECIAL OFFERS FOR ATTENDEES:
Instructions on how to receive these bonus benefits will be provided to attendees on the day of the course.
8:30 – 9:00 a.m.
IN-PERSON CHECK-IN & CONTINENTAL BREAKFAST - OR - JOIN ONLINE
9:00 – 9:10 a.m.
Welcome & Introduction
– James T. McNary, Course Chair
9:10 – 9:55 a.m.
Retirement Accounts in Estate Planning 101
Retirement assets generally transfer directly to properly designated beneficiaries without passing through probate. This session will help you get familiar with how your client’s assets will flow, both for their retirement and then to their heirs. Coordinating all your client’s resources in meeting their retirement spending needs, while also managing them effectively to control the tax consequences, can ultimately enhance both your client’s retirement and estate outcomes.
– Bill Meyer
9:55 – 10:25 a.m.
4 Key Tips for Naming Beneficiaries for Retirement Accounts
When we set up a 401(k), IRA or other retirement account, we are faced with a beneficiary form that asks for both the primary and the contingent beneficiary or beneficiaries. If the account holder dies with the beneficiary undesignated, it will end up in probate court – no place to leave grieving loved ones. This session will provide tips and best practices for naming beneficiaries on retirement accounts. Topics will include:
– Amanda N. Juelson
10:25 – 10:40 a.m.
BREAK
10:40 – 11:10 a.m.
Navigating the Required Minimum Distribution (RMD) Rules
Funds held in retirement accounts cannot be kept there indefinitely. The required minimum distribution (RMD) is the minimum amount you must withdraw from your accounts each year once you reach a certain age. This session will cover:
– Derek M. Dockendorf & Wendy Carlson Frame
11:10 – 11:40 a.m.
Retirement Accounts and Their Impact on Medical Assistance Eligibility
For many Medical Assistance applicants, retirement accounts are one of their biggest assets. If you do not plan properly for your clients, retirement accounts can count as an available asset and affect their Medical Assistance eligibility. This session will provide an overview of the Medical Assistance rules as they pertain to retirement accounts and will provide practical tips for advising your clients on their best course of action under common circumstances.
– Mary Frances Price
11:40 a.m. – 12:40 p.m.
SECURE Act: Rethinking Estate Planning with Retirement Accounts
Using fact scenarios that may arise in your practice, this session features an updated analysis of the continued impact of the SECURE Act on post-death distributions from qualified retirement accounts and will explore various planning strategies and options to effectively structure these distributions for your clients.
– Bryan Jamison
12:40 – 1:40 p.m.
LUNCH BREAK
1:40 – 2:25 p.m.
Social Security and Retirement Planning 101
All of us have been paying social security our entire working careers, and for many clients, their benefits play an important role in their overall retirement plan. But what do we really know about social security? This session will provide an overview of social security benefits and will cover the following topics:
– Cindi K. Hill
2:25 – 3:25 p.m.
Getting Into the Weeds on Social Security Benefits and Answering Your Tough Questions
Clients will often ask their estate planning attorney, “What’s the best age to start receiving retirement benefits?” According to the Social Security Administration, there’s no “best age” for receiving benefits. Instead, the answer to this question is a very personal one and requires a thorough analysis of a client’s individual and family circumstances. This session will answer your tough social security questions and will provide helpful advice and guidance for you when advising your clients on these important retirement decisions.
– Brian Rudolph & Rhonda Whitenack
3:25 – 3:40 p.m.
BREAK
3:40 – 4:40 p.m.
Planning Strategies for Including Social Security and Retirement Benefits in Your Client’s Overall Estate Plan – A Scenario-Based Discussion
Over the course of the day, you have learned the role retirement accounts and social security benefits play in a client’s overall estate plan. Join our panel of experienced estate planning attorneys in this scenario-based session as they discuss what planning they would recommend for various circumstances. Learn more advanced estate planning tips and explore what strategies make the most sense for your clients based on common scenarios.
– Jennifer L.J. Gilk, Bill Meyer & Ivory S. Umanah
– James T. McNary (moderator)
LIVE IN-PERSON
Wednesday, April 27, 2022
Minnesota CLE Conference Center
600 Nicollet Mall, Suite 370
Seventh Street & Nicollet Mall, Third Floor City Center
Minneapolis, Minnesota
LIVE SIMULCAST
Wednesday, April 27, 2022
Attend online
$245 MSBA members / $245 paralegals / $295 standard rate
Other discounts that may apply:
Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.
Minnesota CLE is applying to the Minnesota State Board of CLE for 6.0 standard CLE credits. The maximum number of total credits attendees may claim for this program is 6.0 credits.
