Keogh Plans in Estate Planning

Keogh Plans were established for self-employed individuals before Professional Corporations became the rave in the 1970s.  They were popular for planning so that the self employed could plan for retirement and get some tax savings along the way.

So long as someone’s Keogh Plan has been administered to meet the ongoing requirements for plan qualification, it should still be a qualified plan for distribution purposes.  That means that if survivor is the named beneficiary, then that is all the survivor needs to be the distributee from the plan.  This asset should pass outside of probate because of the beneficiary designation.  If you have a plan like this, please contact your estate planning attorney to discuss its impact on your plan.

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