- Did you know that a Charitable Remainder Trust can both limit your estate tax and reduce your annual income tax? http://www.wfplaw.com #
Powered by Twitter Tools
Powered by Twitter Tools
Powered by Twitter Tools
Even if you remember to assign your IRA with the correct beneficiary designation, there are many benefits in using a trust to distibute your IRA after death. One such benefit is the ability to provide asset protection to your beneficiaries once they receive the money from the IRA. Recently, the Florida Supreme Court ruled that inherited IRA’s do not have the same asset protection features as self-owned IRA’s do. A trust would supply the asset protection that an inherited IRA currently lacks.
Powered by Twitter Tools
Powered by Twitter Tools
Unlike an IRA, a 401k will automatically transfer to a surviving spouse no matter who the designated beneficiary is.
© WFPLaw, PA - Attorneys at Law