This is a very common question - who should be the beneficiary of your IRA? Sometimes, it depends on who you ask. If you ask a financial advisor, they may say to name your spouse. They will usually say, you should never name your revocable living trust. If you ask me, Randy Bryan or one of our associates or colleagues at WealthCounsel, you'll usually get a completely different answer. Sometimes the correct answer is, "it depends." The answer to this question may depend on a number of factors, including whether this is a first or second marriage, whether you have sufficient other assets to take advantage of your full estate tax exemption, and whether you have charitable interests, just to name a few. If you have a child with special needs and a special needs trust, again, the answer could be astonishingly different. There is no one size fits all answer to this question. Discuss your concerns with a board certified attorney in wills, trusts and estates before making your final decision.
Who Should Be The Beneficiary Of Your IRA?
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