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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][quote=Anonymous]Any finance people on with knowledge on this? for background: I'm in NYS (where apparently probate is "not a huge deal", according to estate planning attorney) I have 2 different financial advisors telling me 2 different things: 1 says to make the trust i have set up for my kids as the Beneficiary of my IRA, because of the 10-year distribution rule for Inherited IRAs. But the advisor at the bank I have the IRA with says to leave it directly to my children, to avoid probate. TIA! [/quote] I posted above and didn't know the answer, but I want to say that I have the same question. My reading on the topic said that making the trust the beneficiary can cause problems, so my suggestion is to do some Googling and read what the reputable sources say. [/quote]
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