May 10, 2012
12:00 pm - 1:30 pm PT
1:00 pm - 2:30 pm MT
2:00 pm - 3:30 pm CT
3:00 pm - 4:30 pm ET
Meet the Presenter
Deborah L. Crawford, gettechnical inc
CLICK HERE TO LEARN MORE ABOUT YOUR REGISTRATION OPTIONS
At your desk is a woman who has just inherited her husband’s IRA. She wants to know her options and decides to disclaim the IRA. What do you do? How is this handled?
Finally, an IRA program dedicated to deceased IRA members and their beneficiaries! Join us for the A-Z on inherited IRAs and all the options for spouses and non-spouse beneficiaries. Your credit union will be able to avoid costly errors due to misunderstandings on how IRAs work at death. Although this is one of the most interesting and complex areas of IRAs, you will leave this program with the answers to the most complicated questions your members may ask.
- Member options if the beneficiary is a spouse, non-spouse, or charity
- Time frames for beginning distributions and how long someone can take payments if they are a designated or non-designated beneficiary
- The importance of making the last required minimum distribution to the beneficiary
- How to calculate payments and do separate accounting for beneficiaries of inherited IRAs
- Why spouses may not want to treat the IRA as their own
- Can a beneficiary name a beneficiary and how is the account styled?
- The difference between reduce by one and recalculation and when you use these payout types
- Learn whether inherited IRAs can be transferred to another institution
- IRS reporting of a deceased member’s payout to a beneficiary
WHO SHOULD ATTEND?
This informative session will be beneficial for IRA coordinators, member service representatives, branch managers, branch operations, call center staff, and trainers.