Estate Planning for IRAs and Qualified Retirement Accounts/The New Tax Law- A04


Estates and Probate/Elder Law/Tax Law Track
The Tax Section

Session A: 8:30 a.m. – 10:30 a.m.

This seminar will cover the following topics:

  1. Learn about the taxation of inherited benefits and how to structure payments from qualified retirement plans and IRAs to mitigate and defer income taxes, including the proper naming of beneficiaries. The seminar will provide guidance on trust drafting, including the requirements for a trust that is named as a beneficiary to qualify as either a conduit or an accumulation trust. In addition to covering tax issues surrounding naming beneficiaries for IRAs and qualified retirement accounts, the program will also discuss the asset protection benefits of 401(k)s and IRAs.
  1. Learn about the Tax Cuts and Jobs Act of 2017 (Pub. L. No. 115-97, enacted Dec. 22, 2017). Get updates on the taxation of pass-through entities and the 20 percent deduction; changes to corporate and business taxes, including expensing and accelerated depreciation; the new limitations on interest deductibility; income tax and deduction changes; estate and gift tax changes; and changes to the taxation of employee compensation and benefits. There will also be a brief discussion of Connecticut’s response to the tax changes.

You Will Learn

  • About the taxation of inheriting IRA and qualified plan benefits, and how to properly name beneficiaries
  • Provisions for conduit and accumulation trusts
  • How to use IRAs and 401(k)s as asset protection vehicles
  • About the taxation of pass-through Entities and the new 20 percent deduction
  • About changes to corporate and business taxes, including expensing and accelerated depreciation as well as the new limitations on interest deductibility
  • About changes in estate and gift taxation
  • Connecticut’s response to the tax changes

Speakers

Matthew A. Bovino, Davidson Dawson & Clark LLP, New Canaan

Attorney Bovino, a partner in the firm’s New Canaan office since 2003, is admitted to practice in Connecticut and Massachusetts. He received his B.A. in Communications, magna cum laude, from Fordham University in 1984, and his J.D. from the New York University School of Law in 1987.

Mr. Bovino lectures on estate planning and related topics, both to the general public and to tax and financial planning professionals, and he is a past president of the board of the Estate Planning Council of Lower Fairfield County. While he was initially drawn to trusts and estates by the intellectual challenge of tax law, Mr. Bovino finds counseling clients on how best to protect their families the most rewarding aspect of his practice.

Mr. Bovino and his wife, an artist and teacher, reside in Westport, Connecticut. He has been active in his local community, working with various nonprofit organizations including a local chapter of Big Brothers/Big Sisters. On weekends Mr. Bovino is an avid hiker and cyclist, and an extremely poor golfer.

Christine M. Brew, Cohen and Wolf PC, Westport

Attorney Brew is an associate in Cohen and Wolf’s Trusts and Estates, Tax, Elder Law and Business & Corporate Groups.  Resident in the firm’s Westport office, Ms. Brew’s practice includes a wide range of estate planning, estate administration, taxation, and corporate matters.   Ms. Brew assists clients in achieving their tax and assets preservation goals by providing strategic advice on legal matters related to complex estate planning issues, business succession plans, and corporate structure formation. She also aids clients in preparation and review of estate planning documents, including wills and various trusts, such as revocable, insurance and special needs trusts. Ms. Brew manages all phases of estate administration, including probate, preparation of estate tax returns, and estate tax audits.

Ms. Brew is admitted to practice in the jurisdictions of Connecticut, New York, New Jersey and the United States Tax Court.  She is a member of the New York and Connecticut State Bar Associations, and the Westchester and Fairfield County Bar Associations.  She is also a member of the Westchester Estate Planning Counsel and is the past treasurer of the New Rochelle Bar Association.

Ryan M. LoRusso, Withersworldwide, New Haven

Attorney LRusso is an associate in the private client and tax team.

He focuses on domestic and international tax planning for individuals and closely held businesses. He has a particular focus on planning using insurance products.

 

 

Luke T. Tashjian, Whitman Breed Abbott & Morgan LLC, Greenwich

Attorney Tashjian is a partner at Whitman Breed Abbott & Morgan in Greenwich, Connecticut.  His practice includes designing estate plans and preparing estate planning documents; structuring tax efficient transaction and advising clients on the tax effects of proposed transactions; preparing corporate documents and representing businesses in sales, acquisitions, and mergers; and representing parties in tax controversies and collection matters.  Luke also represents clients before the Connecticut probate courts and the Connecticut superior court in probate matters, including guardianships and conservatorships, and before the U.S. Tax Court and the U.S. District Court in tax matters.

At the state level, Luke is chair of the Connecticut Bar Association’s Tax Section, is a member of the Tax Section’s Executive Committee.  At the county level, Luke is co-chair of the Fairfield County Bar Association’s Tax Committee.  At the local level, Luke is a member of the Stamford Tax Association.

In his spare time Luke serves as a member of the Stamford Rotary Club’s Board of Directors, and as a member of the New Canaan Exchange Club’s Board of Directors.  Luke is also an alternate member of the New Canaan Zoning Board of Appeals

 

2.0 CLE Credits: (CT: 2.0 General; NY: 2.0 AOP)