Metlife IRA annuity left to trust. any way for 7 bene to str
My clients mother died last Nov. She had a IRA that had the trust as beneficiary. We sent Metlife a copy of the trust showing 7 beneficiares. All of the them would like to stretch their inheritance. Is there any way this can be done. Could checks be worded properly for new insurance products. The atty who wrote the trust said the trustee can not make changes after the death. I have been told this can, and cannot be done. Help. Thanks so much.
Permalink Submitted by Bruce Steiner on Fri, 2008-12-05 03:37
It depends on the terms of the trust, but there’s a good chance they’ll be able to. You or your client might want to consult with tax/estates counsel.
If the trust pays out directly to the 7 individuals, it would have been much simpler to have named the 7 individuals as the beneficiaries of the IRA.