Re: The recommendation came form an Estate Planning Att'y.. - Saab General Bulletin Board - Saabnet.com
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Re: The recommendation came form an Estate Planning Att'y..
Posted by Dave in Houston [Email] (more from Dave in Houston) on Fri, 24 Apr 2009 18:14:20
In Reply to: The recommendation came form an Estate Planning Att'y.., MI-Roger [Profile/Gallery]
, Fri, 24 Apr 2009 12:04:06
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I've heard the same pitch from a guy selling trusts.
The advantage comes from a younger person taking only minimum distributions from an inherited IRA. That can happen even without the trust, if the heir has the discipline. (I think it used to be that the IRA had to be distributed based on the statistical life expectancy of the deceased, which would obviously be less than for a younger person.)
The IRA trust has an additional advantage of being able to protect the heir to some extent in case of divorce, legal problems, etc. etc.
I googled "IRA trust" and the link shown was near the top of the page.
This was near the end of the page shown.
"In summary, the benefits of the IRA Inheritor’s Trust are two fold: First, the trust allows for the “stretch out” of your IRA distributions, and second, it allows you to provide your loved ones with protection from creditors, divorce or improvidence."
In my case, I decided I could do without the trust. If my kids are on the verge of divorce, or have legal or substance abuse problems, I might reconsider.
Good luck!
Dave
posted by 64.91.160...
IRA Trust
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