Program Administration and Management

Calming Troubled Waters: Eliminate Delays When Requesting IRA Death Proceeds

Johni Hays

FRIDAY, OCTOBER 19, 11:30 A.M. – 12:30 P.M.

Intermediate

Has your nonprofit bumped into road blocks while attempting to receive IRA death proceeds from a donor? Have IRA administrators delayed the death claim process by requesting more and more forms from you? Or, has your nonprofit been required to set up an entirely separate, second account just to get the proceeds? Did you experience IRA administrators asking for driver’s licenses, Social Security numbers, net worth, or other personal information about your officers or board members while telling you (erroneously) the Patriot Act requires you to provide it? This process has gotten completely out of control over the last few years. What was once a simple practice of providing a death certificate and receiving your share of the IRA within 30-60 days has now turned into an onerous and laborious procedure. Do you want to know how to avoid all this? We’ve shared these situations with the Senate Finance Committee and requested IRS involvement to fast-track death benefits for charities. Join us for the update on how this will get your nonprofit its money faster. Get the latest details here.

Learning Objectives

  1. Learn a step-by-step process to successfully and quickly receive IRA death proceeds for your charitable organization.
  2. Learn the outcome of efforts to approach the Senate Finance Committee asking for an IRS ruling/procedure to fast-track payments to charities.
  3. Learn how to negotiate with IRA administrators to bypass the "inherited IRA account" step and move straight to an immediate, lump sum payment.

 

CFRE: Approved for 1 point

CFP: Approved for 1 point  

CAP: Approved for 1 hour CE Credit

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Johni Hays

SENIOR VICE PRESIDENT, THOMPSON & ASSOCIATES

With 25 years of experience as a practicing attorney in charitable and estate planning, Johni Hays is a recognized expert on the subject of charitable gift planning. Johni served as the president of the Charitable Estate Planning Institute and she is the author of the book, Essentials of Annuities and co-author of the book, The Tools and Techniques of Charitable Planning. Johni served on the editorial advisory board for the books Tax Facts on Investments and Tax Facts on Insurance and Employee Benefits. She serves as a founding charitable planning author of Steve Leimberg’s electronic newsletter service, LISI. Johni has been quoted in the Wall Street Journal and has published charitable planning articles in Estate Planning Magazine, Planned Giving Today, Fundraising Success, Life Insurance Selling and theNational Underwriter magazines.

Johni is in demand as a national lecturer on estate and charitable planning, probate, living wills, annuities, life insurance, retirement planning and IRAs, as well as income, estate and gift taxation. Johni has been engaged in the practice of law with an emphasis in charitable and estate planning since 1993. She graduated cum laude with a Juris Doctor degree from Drake University in Des Moines, Iowa, in 1993. She also holds a Bachelor of Science degree in Business Administration from Drake University and graduated magna cum laude in 1988. Johni has been a member of both the Iowa Bar and the Florida Bar since 1993. She resides in Johnston, Iowa, with her husband, Dave Schlindwein.