Naming the beneficiary of your IRA is an important part of estate planning. In most cases, naming a trust as the beneficiary of your IRA would not provide the optimal financial strategy for your heirs an instead may hinder the financial benefit.
Tips to Avoid Probate
Creative Retirement Planning For The Charitably Inclined (Part 1)
As you plan for your retirement your primary focus is on building assets to provide a source of income for your retirement years. The goal is to accumulate wealth, either on a taxable or tax deferred basis, that will generate sufficient earnings and growth combined with mandatory distributions from tax qualified plans and social security benefits to support your lifestyle in the years you are not working.