[WSBAPT] UTMA for half of an IRA

[Lisa E Schuchman]

My client has two young children, three years apart in age.  He has a SEP-IRA and a SIMPLE IRA he'd like to go to them in equal shares (we are doing a testamentary trust but he does not want these in the trust).  If he names them as equal beneficiaries and checks the UTMA box on the beneficiary forms, if one is of age when he dies and the other is not, will half go directly to the older child and half to a UTMA custodian for the younger child?

Lisa E. Schuchman
206-960-4212
www.lisaschuchman.com<http://www.lisaschuchman.com/>

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