Diane E. Lederman

By Diane E. Lederman and Mazelle H. ColeNeuberger Berman Trust CoNew York, NY

This article gives trust and estate professionals guidance in preparing beneficiary designations that take into account the tax implications and family and financial objectives of clients.

Using different fact patterns, the article discusses the various planning issues associated with preparing a beneficiary designation for an IRA or qualified plan.

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Diane E. Lederman is Senior Vice President at Neuberger Berman Trust Company.

Diane E. Lederman, senior vice president and head of wealth planning at New York-based Neuberger Berman, notes that while trustee fees are tax deductible, third-party fees paid to advisors hired by the trustee are not.FitzPatrick adds to this fact the argument that having all experts under one roof can be more economical in the long run."Even if an individual would do it for nothing," he says, "the costs of those a la carte services can add up to be more than a corporate trustee, which would offer those services in a package."