Description
7.5 TOTAL CREDITS: 5.5 in Areas of Professional Practice and 2.0 in Skills.
Annuity benefits, employer and individual retirement plan benefits constitute a large portion of the wealth of many individuals. Retirement benefits also constitute a large portion of inherited wealth. Many individuals transfer substantial amounts of life insurance benefits to others, either on or before the individual’s death. There are many differences between the treatment of these benefits and that of assets held in brokerage or bank accounts in an individual’s name.
This program will discuss the issues that may arise with respect to the treatment of retirement, annuity and life insurance benefits for purposes of taxes, transfers on death, domestic relations, Medicaid eligibility, and creditor’s rights. Issues may also arise about the extent to which unmarried couples may, and may not, by contract obtain treatment similar to that of married couples. With knowledge of these issues advisors may best assist a client to manage his or her assets, particularly the client’s retirement, annuity, and life insurance benefits.