Also, this video's quality is top notch; your speaking pace was perfect; details in example given were short, clean, not redundant. Love love your written info in the description box (this took time to do; so thank-you). You are a super-pro now in this arena.
@@americasestateplanninglawy1946 still binge watching; have been all weekend long; getting ready for retirement in 3 months; so lots of catching up; thanks Mr. Rabalais.
thanks for your time Mr. Rabalais; such great public service; I wish you good health; so more videos can come out. I have been binge watching your videos (some...twice); now i am at the point of hearing your voice in my head (in a nice way though). I wish I live in Louisana so I can have you set up my trust etc...
Is a video about an unmarried IRA account holder in the works? The Secure Act really messed up the previous path for those people. You do not get the benefit the spousal meld process, the most powerful remaining piece. For me it was a combo of a trust that gets a ten year rule and a direct to non-spousal eligible (within 10 years of age) beneficiary to get a modified stretch. As noted in your talk, the non-spousal eligible does not get the superior RMD schedule. Another problem is the beneficiary of that person is a successor beneficiary (regardless of spousal status) for 10 year plan. The direct beneficiaries’ purpose is to mitigate the 10 years RMD impact on the trust beneficiary. The purpose of the combo of the other beneficiaries to kick the can down the road for their half of the trad IRA. If the elder direct beneficiaries can live long enough, the trust can get through its 10 years of RMDs. Also, retired direct beneficiaries, retired and parents of the trust beneficiary, run their smaller and slower distributions through lower tax rates than the non-retired trust beneficiary has for the same distribution amount. Then they can gift the higher, net of tax, distributions to the trust beneficiary or put in a taxable account that gets a stepped basis once they die. The asset protection of the traditional IRA within the trust is a positive feature of an irrevocable trust that can be a conduit or accumulation trust. For traditional IRA, keeping the non distributed IRA funds inside the irrevocable trust plus spendthrift provisions protects the IRA. It would be great if the trust could transfer the distribution tax impacts to the beneficiary without having the funds leave the trust. Unfortunately, it does not work that way. Roth IRAs can stay in the trust since they don’t have taxable distributions. That happy fact drives the ongoing process of Roth conversions to lower the amount in the traditional IRA that must go through the above process. Single people also have families that deserve the results of the single person’s hard work more than the Government. They have to be more ingenious about .it. It takes a team effort to maximize the next benefit to the next generation.
thank you. your talks are so informative and really help with understanding estate planning. Wish we could clone you. i worked for a very brief moment with an attorney but it just didn’t click for me so i never followed through. i would have your clone set my estate plan up in a heartbeat if you were in our state. thanks for sharing your knowledge to help us learn and have hopes of getting this task done. I will be checking out the web site you mention on the self serve estate planning.
Very helpful. I appreciate how well you breakdown and explain complex topics in such an understandable manner.
Great to hear!
I am glad I listened- I have done #3! That makes me feel good!
Also, this video's quality is top notch; your speaking pace was perfect; details in example given were short, clean, not redundant. Love love your written info in the description box (this took time to do; so thank-you). You are a super-pro now in this arena.
Wow, thanks!
@@americasestateplanninglawy1946 still binge watching; have been all weekend long; getting ready for retirement in 3 months; so lots of catching up; thanks Mr. Rabalais.
thanks for your time Mr. Rabalais; such great public service; I wish you good health; so more videos can come out. I have been binge watching your videos (some...twice); now i am at the point of hearing your voice in my head (in a nice way though). I wish I live in Louisana so I can have you set up my trust etc...
Paul, great job of explaining a complex topic in clear and understandable language! Thank you!
Glad it was helpful!
Hi Paul. Love your videos. Extremely informing. What do I di if I bought a house from the diseased oerson but the beneficiary air don't recognise it?
Consider making a video about RMDs required each year with 10 year payout when passing after the RBD on IRAs that was just issued by IRS.
just in case he doesn't reply to you; there was a video about this he put out; i remember watching it.
Is a video about an unmarried IRA account holder in the works? The Secure Act really messed up the previous path for those people. You do not get the benefit the spousal meld process, the most powerful remaining piece. For me it was a combo of a trust that gets a ten year rule and a direct to non-spousal eligible (within 10 years of age) beneficiary to get a modified stretch. As noted in your talk, the non-spousal eligible does not get the superior RMD schedule. Another problem is the beneficiary of that person is a successor beneficiary (regardless of spousal status) for 10 year plan.
The direct beneficiaries’ purpose is to mitigate the 10 years RMD impact on the trust beneficiary. The purpose of the combo of the other beneficiaries to kick the can down the road for their half of the trad IRA. If the elder direct beneficiaries can live long enough, the trust can get through its 10 years of RMDs. Also, retired direct beneficiaries, retired and parents of the trust beneficiary, run their smaller and slower distributions through lower tax rates than the non-retired trust beneficiary has for the same distribution amount. Then they can gift the higher, net of tax, distributions to the trust beneficiary or put in a taxable account that gets a stepped basis once they die.
The asset protection of the traditional IRA within the trust is a positive feature of an irrevocable trust that can be a conduit or accumulation trust. For traditional IRA, keeping the non distributed IRA funds inside the irrevocable trust plus spendthrift provisions protects the IRA. It would be great if the trust could transfer the distribution tax impacts to the beneficiary without having the funds leave the trust. Unfortunately, it does not work that way. Roth IRAs can stay in the trust since they don’t have taxable distributions. That happy fact drives the ongoing process of Roth conversions to lower the amount in the traditional IRA that must go through the above process.
Single people also have families that deserve the results of the single person’s hard work more than the Government. They have to be more ingenious about .it. It takes a team effort to maximize the next benefit to the next generation.
Would you still use a combo see-through/QTIP/conduit trust in the case of a Roth IRA instead of a traditional IRA?
thank you. your talks are so informative and really help with understanding estate planning. Wish we could clone you. i worked for a very brief moment with an attorney but it just didn’t click for me so i never followed through. i would have your clone set my estate plan up in a heartbeat if you were in our state. thanks for sharing your knowledge to help us learn and have hopes of getting this task done. I will be checking out the web site you mention on the self serve estate planning.
Great job.
Thank you for this!!
Does this apply to my 401k?
Very informative. Thank you.
You are welcome!
Good information. Thank you.
Glad it was helpful!
Fabulous
You are fabukous