Life and Death Planning for Retirement Benefits

Appendix B: Forms Table of Contents Checklist: Drafting the Beneficiary Designation....................................................................... 475 1. SIMPLE BENEFICIARY DESIGNATION FORM 1.1. Simple Designation: Spouse, Then Issue................................................................. 478 2. MASTER BENEFICIARY DESIGNATION FORMS 2.1. Master Designation: Traditional or Roth IRA ......................................................... 479 2.2. Master Designation Form: Qualified Plan ............................................................... 481 2.3. Additional Clauses for Master Forms ....................................................................... 482 3. SAMPLE INSERTS FOR MASTER FORMS 3.1. To Spouse, “Disclaimable” to Trust; Different Contingent Beneficiary (Death vs. Disclaimer)................................................................................................................ 483 3.2. Spouse Primary Beneficiary; Children Contingent................................................... 484 3.3. Designating Children (Or Their Issue) ..................................................................... 484 3.4. Trust is Beneficiary, but Only If Spouse Survives .................................................. 485 3.5. To Issue; Hold In Trust If Below Certain Age ......................................................... 485 3.6. Spouse as Primary, Issue as Contingent Beneficiary; Hold in Trust If Below Certain Age............................................................................................................................ 485 3.7. Different Benefs. For Roth, Traditional, Accounts................................................... 486 3.8. Formula Gift with Reference to Outside Fiduciary .................................................. 486 4. TRUST PROVISIONS DEALING WITH BENEFITS 4.1. Administration During Donor’s Life; Irrevocability ................................................ 487 4.2. Forbidding Payment of Benefits to Nonindividuals ................................................. 487 4.3. Excluding Older Adopted Issue ................................................................................ 488 4.4. Limitation on Powers of Appointment in Trust ................................................ 488 4.5. Marital Deduction Savings Language....................................................................... 489 4.6. Establishing a Conduit Trust for One Beneficiary.................................................... 489 4.7. Conduit Trust for Spouse (Marital Deduction) ......................................................... 489 4.8. Conduit Provision Included in “Family Pot” Trust................................................... 490 4.9. Last Man Standing Trust for Children ...................................................................... 491 4.10. “O/R-2-NLP” Trust (Spouse then Issue) .................................................................. 491 4.11. Definitions Used in Certain Trust Forms.................................................................. 491 5. OTHER FORMS 5.1. Power of Attorney for Retirement Benefits .............................................................. 492 5.2. Will Provision: Formula in Designation Form ........................................................ 493 5.3. Will Provision: Roth IRA Conversions ................................................................... 494 5.4. Fiduciary Letter Transferring Plan to Beneficiary.................................................... 494 5.5. To Administrator Who Won’t Provide Information ................................................. 495