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Reply to "Beneficiaries for IRA: In children's names or in the name of the trust I have set up for them?"
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[quote=Anonymous]Probate is a huge deal. Simplify it all before you pass. How old are the children? Like adult children? How much money? If you have a lot, pay the advisor/lawyer to clear it all up. If you don't, why are you even wasting money and time on advisors and trusts. Make the kids beneficiaries. Or even better, start giving money away already now. We received a traditional IRA and Roth IRA for a minor child sent straight to the other parent to manage. The rest of the money sits somewhere in estate account. Depends of the state, the age of the children, the bank, the amount and who knows that else. Robinhood did not allow minors as beneficiaries.[/quote]
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