[WSBAPT] IRA trusts

[John Creahan]

There is no clear line between situations where you need a separate trust and those where you don't. More often than not, I include conduit trust language in the testamentary trust rather than a stand-alone.
I would probably use a stand-alone where the trusts' beneficiaries were not identical, for instance, or in cases in which the clients wanted dramatically different distribution schemes for their IRAs than for other assets.
This assumes a trust is beneficial. Depending on ages and account size, I often recommend that clients name their children as the account's alternate beneficiary rather than a trust.
Hope this helps,
John


John Creahan
Cairn Law, PLLC
206-621-5848
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________________________________
From: Mike Winslow<mailto:mike at winslegal.com>
Sent: ‎9/‎11/‎2015 9:50 AM
To: 'WSBA Probate & Trust Listserv'<mailto:wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] IRA trusts

This is a complex area of tax law. I have used Judd Marten to advise on these provisions. He teaches on the subject matter.

Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com

This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jenna Brozik
Sent: Friday, September 11, 2015 9:16 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] IRA trusts

Hello list mates,

I have a married couple who are clients and they have several IRAs in their own names.  I have already done a living trust for them.  I had planned to list the living trust as the secondary beneficiaries of the IRAs.  Do you think it is necessary to do a separate IRA trust and list this separate IRA trust as the secondary beneficiary of the IRAs?

Thanks in advance for any comments or suggestions.


Jenna Brozik
Attorney at Law
Prinz & Brozik PLLC
445 S Grand Ave
Pullman, WA 99163
(509)338-0908 / (509) 338-3527 (fax)
jennaprinzlaw at gmail.com<mailto:jennaprinzlaw at gmail.com>

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