Wealth Preservation, Trusts and Estates

Although you are permitted to name anyone or anything as the beneficiary of an Individual Retirement Account (IRA), there are many pitfalls that must be avoided. Naming a Trust as the beneficiary of an IRA is an important estate planning opportunity, but the Trust and the beneficiary designation language must be drafted properly to insure that the beneficiaries can receive maximum available tax deferral. I have the opportunity to see the mistakes that individuals make with their estate planning documents and beneficiary designations and know that these mistakes can cause hundreds of thousands of dollars of loss. The IRA Trust terms such as “stretch out”, “Measuring Life”, “conduit Trust” and “See Through Trust” can be confusing and complex. Read this article by Natalie Chaote to get a better understanding of the issues faced when naming a Trust as IRA beneficiary. While you are at it, check out this Natalie Choate IRA article here for some another interesting fact pattern

Contact Douglas L. Kaune, Esq. any time at 610-933-8069 or dkaune@utbf.com to review your estate planning and particular IRA beneficiay designation concerns and desires. We can then determine how best to approach this complex legal issue.

Wills * Trusts * Elder Law * Probate * Asset Protection * Power of Attorney * Estate Planning
Malvern, Phoenixville, West Chester Offices serving Wayne, Newtown Square, Media, Paoli, Frazier, Exton, Norristown, Radnor, Chester County, Montgomery County, Delaware County, Bucks County, Berks County, Philadelphia County Pennsylvania (PA).

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Written by: Douglas L. Kaune

E-mail: dkaune@utbf.com
Phone: 610-933-8069
AVVO Rating: 10.0

Douglas L. Kaune

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Mr. Kaune's practice is focused in the areas of estate planning, estate and trust administration, creditor protection, elder law, nursing home and Medicaid planning. He is a frequent speaker on the topics related to his practice. In 2010, Mr. Kaune was named a Top Lawyer by Main Line Today Magazine in the Elder Law section.

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This entry was posted on Thursday, April 1st, 2010 at 5:33 am and is filed under Asset Protection, Estate Planning, Trusts, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.