Specialized Trusts for IRA account
Apr 08, 2015OUTCOME: IRA Accumulation Trusts executed
Client wanted spendthrift children to inherit sizable IRA accounts, but wanted "strings" over accounts so accounts are not prematurely consumed by children. Worked with client to draft stand-alone " ... Accumulation Trusts" for each child. Under such structure, an independent trustee is able to distribute trust corpus to children for their respective needs. Significantly, trust was drafted in accordance with complicated IRS rules to ensure that each child's life expectancy was the "measuring life" for purposes of computing IRA required minimum distributions.
