Sandra J. Chan, A Professional Corporation

Contents

Work Information

Sandra J. Chan has her own law firm with offices in Santa Barbara and West Los Angeles. Ms. Chan practices exclusively in the personal planning area, which includes estate planning, and trust and probate administration. Ms. Chan is a fellow of the American College of Trust and Estate Counsel and is a member of its Charitable Planning and Exempt Organization Committee and its International Estate Planning Committee. She is a co-author of California Estate and Gift Tax Planning: Forms and Practice Manual (2002, 2001, 1999 Data Trace Publishing Company). She is also active with a number of civic organizations. Ms. Chan received her B.A. from the University of California, Los Angeles, and her J.D. from the University of California, Davis where she was a member of the Law Review.

 

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Contact Information

E-mail address

sjchan@sjcapc.com

Santa Barbara office:

8 E. Figueroa Street, Suite 210

Santa Barbara, CA 93101

Telephone: (805) 969-4286
FAX: (805) 565-4966

West Los Angeles office:

11845 W. Olympic Boulevard, Suite 1000

Los Angeles, CA 90064

Telephone: (310) 312-8108

FAX: (310) 362-8421

Mailing address:

Post Office Box 5145, Santa Barbara, CA 93150-5145

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Personal Planning Information

  • Minimum Withdrawals from Retirement Savings Plans

The IRS again revised its mandatory distribution rules for retirement savings plans, including IRAs and 401(k), 403(b) and 457 plans. The revisions include a new table to calculate required minimum distributions from such plans. Set forth below is a table of the new divisors as compared with the divisors published in 2001. To determine the minimum you need to withdraw from your retirement assets each year, divide the value of all your IRAs and qualified retirement plan accounts as of December 31 of the previous year by the new divisor listed next to the age you will be at the end of the current year. Treas. Reg. 1.401(a)(9)-9.

 

Age

2001
divisor

New
divisor

Age

2001
divisor

New
divisor

70

26.2

27.4

85

13.8

14.8

71

25.3

26.5

86

13.1

14.1

72

24.4

25.6

87

12.4

13.4

73

23.5

24.7

88

11.8

12.7

74

22.7

23.8

89

11.1

12.0

75

21.8

22.9

90

10.5

11.4

76

20.9

22.0

91

9.9

10.8

77

20.1

21.2

92

9.4

10.2

78

19.2

20.3

93

8.8

9.6

79

18.4

19.5

94

8.3

9.1

80

17.6

18.7

95

7.8

8.6

81

16.8

17.9

96

7.3

8.1

82

16.0

17.1

97

6.9

7.6

83

15.3

16.3

98

6.5

7.1

84

14.5

15.5

99

6.1

6.7

 

 

 

100

5.7

6.3

 

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Last revised: July 4, 2002