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Reply to "If you and your spouse died tomorrow how much would each child inherit? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The real question is does everyone have a trust established for their minor children in the case that they and their spouse knock off early. I know I don't want my kids becoming overnight millionaires on their 18th birthdays after losing their parents. [/quote] Most people don’t have a trust names as contingent beneficiaries of retirement. If you die while in payout status, your kids will have to take rmd’s every year. [/quote] Could you elaborate on this? Can one name a trust as beneficiary of a retirement account? In that case do the RMDs go to the trust for the benefit of the children according to the terms of the trust? If the children are not minors, what are the pros and cons?[/quote]
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