[WSBAPT] IRA to Beneficiaries of a Descendant's Trust (Beneficiary Language for Plan Administrator)

[David Faber]

WSBAPT List:

I am working with an unmarried client who just lost one or their two
children, which has left them dwelling on the "what ifs" of losing their
other child. The bulk of the client's assets are held in IRA and they are
still working. The client has named their surviving child as the first
contingent beneficiary of the IRA and wants their grandchildren to be the
beneficiaries if their surviving child predeceases. The complicating factor
is that the client does not want the grandkids (who are all quite
young--not even school-age yet) receiving a large supply of money before
they can learn the value of money and instead only wants the kids to
receive the money upon reaching the age of thirty. I believe I have amended
the client's trust with sufficient language to allow the Trustee to
administer the IRA, but I want to make sure I'm providing proper language
to the plan administrator. Does anyone have example language that they
provide the client to send to their plan administrator for this purpose
that they would be willing to share?

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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