Case Conclusion Date: 01.01.2012
Practice Area: Elder law
Outcome: Stretch IRA payments for client while his trust was the beneficiary
Description: Many people cannot name their living trust as a beneficiary of an IRA because the trust does not contain the proper language to prevent it from forcing a distribution over five years or less. However, a properly drafted living trust can preserve the stretch-IRA benefits, while also providing a level of divorce and creditor protection for beneficiaries. This result was achieved for my client whose IRA administrator initially gave him a hard time.