Trust for disabled daughter
Does anyone have any experience with this question?
I have a client who wants to pass on his IRA that’s in a variable annuity to his wife but also
leave some to his daughter who is on disability. Is there any way this money could be set up
in a trust so it wouldn’t cause her to lose her insurance (mainly) & benefits.
Thanks for your help!
JP
Permalink Submitted by Bruce Steiner on Tue, 2010-06-22 21:03
For the details of leaving IRAs in trust rather than outright, see my article on trusts as beneficiaries of retirement benefits in the March 2004 issue of BNA Tax Managements’ Estates, Gifts & Trusts Journal: http://www.kkwc.com/docs/AR20041209132954.pdf.
But note that insurance companies don’t always offer all of the same choices with respect to annuities that other financial institutions offer with respect to other types of assets in IRAs.