Your IRA Might Not Be Protected
Even if you remember to assign your IRA with the correct beneficiary designation, there are many benefits in using a trust to distibute your IRA after death. One such benefit is the ability to provide asset protection to your beneficiaries once they receive the money from the IRA. Recently, the Florida Supreme Court ruled that inherited IRA’s do not have the same asset protection features as self-owned IRA’s do. A trust would supply the asset protection that an inherited IRA currently lacks.
Related Posts
- Don’t Leave Your IRA Out Of Your Estate Plan
- Should I Deed My Homestead Property Into My Revocable Trust?
- Ten Asset Protection Mistakes
- Asset Protection Is Often A Necessity For Attorneys
- The Need for a Special-Needs Trust
- It’s a Matter of Trust
- Advanced Estate Planning Techniques
- Inheritance Rules With a 401k
- Life Insurance Is Not So Tax-Free
- Ducking Under the Estate Tax Limbo
Tagged with: asset • asset protection • beneficiary • creditor • estate plan • estate planning • IRA • trust
Filed under: asset protection • estate planning • Legal News • Trusts
Like this post? Subscribe to my RSS feed and get loads more!