IRA to TRUST
My husband left his IRA to a revocable living trust. If the trustee (my son) disclaims, will the IRA automatically pass to me? What do I need to do and what pitfalls and benefits might I see?
My husband left his IRA to a revocable living trust. If the trustee (my son) disclaims, will the IRA automatically pass to me? What do I need to do and what pitfalls and benefits might I see?
Permalink Submitted by Bruce Steiner on Tue, 2011-12-06 23:03
Whether a trustee can disclaim will vary depending on state law. But even if not, you may be able to accomplish the same thing if all of the beneficiaries of the trust disclaim.
There are various ways it may be possible to get the IRA to you so you can roll it over. See my article on this subject in the October 1997 issue of Estate Planning: http://www.kkwc.com/docs/AR20050125164755.pdf
You may wish to consult with competent tax/estates counsel who may be able to assist you in solving this.