218 North 14th Ave, P.O. Box 317, Sturgeon Bay, WI 54235


Door County WI Estate Planning Blog

Sunday, November 25, 2012

Who Should Be The Beneficiary Of Your IRA?

Who Should Be The Beneficiary Of Your IRA?


As of December 31, 2010, individuals hold nearly $17.5 trillion in IRAs and Qualified Plans.  These assets now account for 37% of all household financial assets.  Because of the way lifetime required minimum distributions are now calculated, retirement plans will frequently be the largest asset held at death.

With a properly drafted trust and a properly completed beneficiary designation form you can leave a $100,000 IRA to a 25 year old beneficiary that will provide the beneficiary with $400,000 of after tax income over his life expectancy with the all the benefits normally associated with leaving property to a beneficiary in trust.  Compare this with the $60,000 the beneficiary would receive if left to a trust that, because of either the way the trust was drafted or the way the beneficiary designation was made, does not qualify for look-through status.  Contact Ross Estate Planning to get a copy of our article The Six Biggest IRA Beneficiary Mistakes.

See also the chart :"ABOUT ASK BOB" from the The Big IRA Book

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218 North 14th Ave, P.O. Box 317, Sturgeon Bay, WI 54235
| Phone: 920-743-9117 | 866-743-9117
2300 Riverside Drive, Green Bay, WI 54301
| Phone: 920-743-9117 | 866-743-9117

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