Additionally, a CRT, as an irrevocable trust, maintains asset protection for the beneficiary from their creditors, divorce and sometimes, themselves. While there are certain drawbacks to a CRT such as the filing of tax returns by the trust, picking a trustee, etc., the financial benefit to your beneficiaries may be far greater than being subject to the rules of the SECURE Act.

Stephen J. Lacey, J.D., LL.M-Tax, partner, is with the law firm of Lacey & Lyons, PLLC.