Word on the Street: Beneficiary Options for Retirement Accounts: A Discussion about the SECURE Act Changes and IRS Explanations in Pub-590-B

Thursday, May 20, 2021, 1:00 PM - 2:30 PM, ET

Presenters: Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA and Edward A. Renn, JD


The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub.L. 116–94, was signed into law on December 20, 2019, as part of the Further Consolidated Appropriations Act, 2020. One of the more significant changes made by the SECURE Act is limiting the distribution period to 10 years for designated beneficiaries. An exception applies to designated beneficiaries who qualify to be eligible designated beneficiaries, allowing them to take distributions over their life expectancies.

However, some provisions were not addressed by the SECURE Act, creating uncertainty about whether they remain unchanged. The IRS is expected to issue official regulations, which will hopefully resolve outstanding issues and fill in missing gaps. But for now, they have included explanations in the 2020 version of IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) (Pub. 590-B), dated March 25, 2021, some of which have created confusion. 

During this session, we will discuss the SECURE Act and address the explanations provided by the IRS. 

After this session, participants will be able to:

  • Make a distinction between the rules that apply to beneficiaries that inherit retirement accounts in 2019 and earlier vs those that inherit IRAs after 2019.
  • Provide solutions to spouse beneficiaries that can be used to maximize tax deferral and minimize taxes.
  • Help clients who inherit retirement accounts avoid portability mistakes that could result in unintended distributions. 
  • Address mistakes made in IRS Publication 590-B


The recording for this webinar will be posted on the WealthCounsel member website within approximately 24 business hours after the event.  

This webinar is included for all WealthCounsel Subscribers.

Regular Price: $129 | Trusts & Estates Price: $0 | Trust Administration Price: $129 | Gun Law Price: $129 | Business Law Price: $0 (Website access not included) | Practice Development Price: $0

1.5 credits
States Pre-Approved: AR, CA, ME, MO, NJ, NY, OH, OK, PA, TX, UT, VT (AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: GA, IL, KS, NC, TN

1.5 Pending (National CFP Board)

Program Knowledge Level: Intermediate
Delivery Method: Group Internet-Based
Recommended CPE Credit: 1.5 
Field of Study: Taxation or Business, or Ethics or combo (consult with Mona or Monica on this)
Prerequisites: JD
Advance Preparation: None
Review Date: 05-13-2021

WealthCounsel LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA Sponsor ID 108255. We have registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program. Texas State Board Sponsor ID 9610.
In order to be awarded the full credit hours, you must be present during the entire program.

For information on refunds, concerns, and program cancellation policies, please contact our offices at 888-659-4069, ext 818 or memberservices@wealthcounsel.com.