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Roth Conversions - A Yearend Look

ABA JOINT COMMITTEE ON EMPLOYEE BENEFITS  • DATE: December 14, 2010
SPONSORS: The Sections of Business Law; Health Law; Labor and Employment Law; Real Property, Trust and Estate Law; Taxation; Tort Trial and Insurance Practice; and the American College of Employee Benefits Counsel

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Untitled Document

A 90-minute TeleConference
TUESDAY, DECEMBER 14, 2010

1:00-2:30 pm ET / 12:00-1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT

Moderator:
Harvey B. Wallace II, Berry Moorman, PC, Detroit, MI

Panelists:
Farah N. Ansari, Wolff & Samson, West Orange, NJ
Steven B. Gorin, Thompson Coburn LLP, St. Louis, MO
Leonard J. Witman, Witman Stadtmauer, PA, Florham Park, NJ

As 2010 ends and the first year in which Roth conversions became available to higher income individuals comes to a close, there is still time to convert traditional IRAs and, with recent IRS regulations, qualified plan accounts to Roth accounts this year in order to defer income tax on the conversion to 2011 and 2012. What individuals are likely to benefit most by paying the upfront conversion tax in order to gain income tax free distributions in the future? What are the conversion mechanics, the traps, and the recharacterization procedures to reverse the conversion?

The conference will address the following topics –

  • What makes a Roth IRA a powerful wealth creation vehicle?
  • How to convert a traditional IRA.
  • Traps and tripwires that undercut conversions.
  • The new rules for “in plan” conversions.
  • Recharacterizations, “financial engineering”, and reconversions.
  • Special tax payment deferral about to expire.
  • Who benefits most in retirement?
  • Estate tax, income tax, and stretch out – whose heirs benefit more?
  • Beneficiary designations – the key to post-death deferral/recharacterizations.


   
Roth Conversions - A Yearend Look
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