Life and Death Planning for Retirement Benefits

Appendix B: Forms

Table of Contents

Checklist: Drafting the Beneficiary Designation...........................................................................497

1. SIMPLE BENEFICIARY DESIGNATION FORM 1.1. 2. MASTER BENEFICIARY DESIGNATION FORMS 2.1.

Simple Designation: Spouse, Then Issue ....................................................................500

Master Designation: Traditional or Roth IRA ............................................................501 2.2. Master Designation Form: Qualified Plan...................................................................503 2.3. Additional Clauses for Master Forms...........................................................................504 3. SAMPLE INSERTS FOR MASTER FORMS 3.1. To Spouse, “Disclaimable” to Trust; Different Contingent Beneficiary (Death vs. Disclaimer) .....................................................................................................................505 3.2. Spouse Primary Beneficiary; Children Contingent......................................................506 3.3. Designating Children (Or Their Issue) .........................................................................506 3.4. Trust is Beneficiary, but Only If Spouse Survives ......................................................507 3.5. To Issue; Hold In Trust If Below Certain Age.............................................................507 3.6. Spouse as Primary, Issue as Contingent Beneficiary; Hold in Trust If Below Certain Age..................................................................................................................................507 3.7. Different Benefs. For Roth, Traditional, Accounts......................................................508 3.8. Formula Gift with Reference to Outside Fiduciary .....................................................508 4. TRUST PROVISIONS DEALING WITH BENEFITS 4.1. Administration During Donor’s Life; Irrevocability ...................................................509 4.2. Forbidding Payment of Benefits to Nonindividuals ....................................................509 4.3. Excluding Older Adopted Issue ....................................................................................510 4.4. Limitation on Powers of Appointment in Trust ...................................................510 4.5. Marital Deduction Savings Language ..........................................................................511 4.6. Establishing a Conduit Trust for One Beneficiary.......................................................511 4.7. Conduit Trust for Spouse (Marital Deduction) ............................................................511 4.8. Conduit Provision Included in “Family Pot” Trust .....................................................512 4.9. Last Man Standing Trust for Children ..........................................................................513 4.10. “O/R-2-NLP” Trust (Spouse then Issue) ......................................................................513 4.11. Definitions Used in Certain Trust Forms .....................................................................513 5. OTHER FORMS 5.1. Power of Attorney for Retirement Benefits .................................................................514 5.2. Will Provision: Formula in Designation Form............................................................515 5.3. Will Provision: Roth IRA Conversions .......................................................................516 5.4. Fiduciary Letter Transferring Plan to Beneficiary .......................................................516 5.5. To Administrator Who Won’t Provide Information ....................................................517