5 Accumulation Trusts (5 Trusts, 86 Pages)

"... the game-changing problem is that except for the very limited specified categories of Eligible Designated Beneficiaries (EDBs), for deaths in 2020 or later, the existing estate plan will not work as it was intended. Plan benefits must now be distributed in 10 years rather than over the life expectancy of the designated beneficiary.

For clients who chose a conduit "see through" trust plan, expecting a stretched-out distribution over the beneficiary's life expectancy, that plan will no longer work. The conduit trust will force distributions to the beneficiary within 10 years of the plan participant's death.

For persons who died before the enactment of the law, the SECURE Act continues the existing distribution plan only for the lifetime of the designated beneficiary. Thereafter, the 10-year payout rule takes effect.

Going forward, the best planning alternative for a wide range of beneficiaries is the accumulation trust. Even though the plan funds must be paid to the trust within 10 years of the participant's death, the trust can provide for discretionary payouts for the beneficiary. This will allow more control over the timing of distributions, and withholding distributions from a spendthrift or creditor-concerned beneficiary...It is anticipated that many clients will consider changing a trust from a conduit trust to an accumulation trust to avoid a rapid forced payout of the plan funds." (emphasis added)

Here Are The 5 Accumulation Trusts Included:

1. Dynasty Trust (34 Pages)

2. Irrevocable Lifetime Trust For A Beneficiary (15 Pages)

3. Irrevocable Lifetime Trust With Limited Power Of Appointment (15 Pages)

4. Irrevocable Lifetime Trust With Limited Power Of Appointment And Crummey Power (15 Pages)

5. Special Needs Trust Of A Third Person's Assets Created By That Person For A Disabled (Or Other) Person (7 Pages)

Select any Trust title above for a detailed description, sample pages and individual form pricing.

Author:
Steven G. Siegel is president of The Siegel Group, a Morristown, New Jersey - based national consulting firm specializing in tax consulting, estate planning and advising family business owners and entrepreneurs. Mr. Siegel holds a BS from Georgetown University, a JD from Harvard Law School and an LLM in Taxation from New York University.

He is the author of several books, including: Planning for An Aging Population; Business Entities: Start to Finish; Taxation of Divorce and Separation; Income Taxation of Estates and Trusts, Preparing the Audit-Proof Federal Estate Tax Return, Putting It Together: Planning Estates for $5 million and Less, Family Business Succession Planning, Business Acquisitions: Representing Buyers and Sellers in the Sale of a Business; Dynasty Trusts; Planning with Intentionally-Defective Grantor Trusts; The Federal Gift Tax: A Comprehensive Analysis; Charitable Remainder Trusts, Grantor Trust Planning: QPRTs, GRATs and SCINs, The Estate Planning Course, The Retirement Planning Course, Retirement Distributions: Estate and Tax Planning Strategies; The Estate Administration Course, Tax Strategies for Closely-Held Businesses, and Tort Litigation Settlements: Tax and Financial Issues.

Mr. Siegel has lectured extensively throughout the United States on tax, business and estate planning topics on behalf of numerous organizations, including National Law Foundation, AICPA, CCH, National Tax Institute, National Society of Accountants, and many others. He has served as an adjunct professor of law at Seton Hall and Rutgers University law schools.
The Siegel Group provides consulting services to accountants, attorneys, financial planners and life insurance professionals to assist them with the tax, estate and business planning and compliance issues confronting their clients. Based in Morristown, New Jersey, the Group has provided services throughout the United States. The Siegel Group does not sell any products. It is an entirely fee-based organization.Contact the Siegel Group through its president, Steven G. Siegel, e-mail: [email protected]

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