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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]I don't know the answer to your question yet wanted to bring something up that a lawyer mentioned to me. Be sure you have a trust set up in a way that provides guardrails for your children. Having them inherit, say, a million at age 20 can be detrimental to their development and cause them not to fulfill their desires--or to have many desires in the first place. You maybe know this but you can arrange for them to receive certain amounts at certain ages. This keeps them from blowing it all at once. When kids are kids, it's hard to know if they will end up with a drug problem or a mental health issue or something else that causes problems for them with the money. Hope this is useful. Like I said, maybe you already know this since you have pro advice already. Hope all works out well for you and your family! [/quote]
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