Choate on CARES: Helping Clients Navigate Two New Planning Scenarios

Friday, May 8, 2020

Video on Demand

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Speaker:

Natalie B. Choate, Esq.

Webinar Description:

Join Natalie Choate for a discussion of the new CARES Act, which impacts retirement benefits in two important ways – minimum distributions are “cancelled” for 2020, and special tax breaks are permitted for coronavirus-related distributions.

In this webinar, Natalie will address the following items for each of these topics:

Minimum Distributions Cancelled for 2020

• How the suspension of 2020 minimum distributions works, mechanically

• Special rules for deferred 2019 RMDs and 5-year rule payouts

• The impact on DB plans and annuities

• The effect on QCDs – is it time to do Roth conversions?

• What about people who already took their 2020 RMD – they can “roll it back in,” but…

• What about the 60 day deadline?…the once per 12 months limit?

• What if the person took monthly payouts, or made QCDs….or DIED?

Special Tax Breaks for Coronavirus-Related Distributions

• Definition of “CRD”

• No 10% tax for those under age 59.5

• $100,000 maximum

• Pay the tax over 3 years, or…

• Roll it back IN within 3 years.

Don’t miss this opportunity to hear from the expert in this challenging area that impacts clients of all levels of wealth.


Meet Natalie B. Choate, Esq.

Natalie B. Choate practices law in Boston, Massachusetts, with the firm of Nutter McClennen & Fish LLP. Her practice is limited to consulting on estate planning and retirement benefits matters. Her books Life and Death Planning for Retirement Benefits and The QPRT Manual are leading resources for estate planning professionals.

Miss Choate is a former chairman of the Boston Bar Association Estate Planning Committee, which she founded in 1981, and its ERISA and Employee Benefits Law Committee, from 1990-1992. She is a former Regent of the American College of Trust and Estate Counsel and former Chairman of its Employee Benefits Committee. She is a member and former officer of the Boston Probate and Estate Planning Forum. She was named “Estate Planner of the Year” by the Boston Estate Planning Council, and was one of the first 10 attorneys to receive the “Distinguished Accredited Estate Planner” award from the National Association of Estate Planners and Councils. She is listed in The Best Lawyers in America.

She is an editorial advisor for several professional periodicals: Trusts and Estates, Ed Slott’s IRA Advisor, The Leimberg Information Service Employee Benefits Newsletter and Keeping Current. Her articles have been published in ACTEC Notes, Trusts and Estates and Estate Planning magazine. She is a contributing author and former coeditor of the book Drafting Wills and Trusts in Massachusetts. She authors a monthly column on retirement benefits for MorningstarAdvisor.com.

Miss Choate has taught professional-level courses in estate planning for ALI-ABA (the American Law Institute-American Bar Association), American College of Trust and Estate Counsel, International Association of Financial Planners, MCLE, the Boston and Massachusetts Bar Associations, and other organizations, and has spoken at the Heckerling, Notre Dame, Heart of America, New England, Southern California, Mississippi, Southern Federal, and many other Tax Institutes. She has lectured in 49 states, the District of Columbia, and Puerto Rico. Her comments on estate and retirement planning have been quoted in The Wall Street Journal, Newsweek, Kiplinger’s Personal Finance, Forbes, Financial Planning, USA Today, and Financial World magazines.

A Boston native, she is a graduate of Radcliffe College and Harvard Law School.


CLE Credit

InterActive Legal is not an approved Continuing Education Sponsor.  However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation.  If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities.  It is the responsibility of the participant to file for CE credit and is not guaranteed by InterActive Legal.

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