Special Needs Trust IRA
Hi, I had an attorney ask me on Friday about changing the current ownership, not beneficiary, of an IRA to a Special Needs Trust. This is not anything I have heard could be done in the past. Is anyone familiar with this being an option? They are trying to preserve assets from Medicaid spend down. The attorney told me there have been IRS private letter rulings allowing the change from an individual to the trust.
Thanks,
larry.
Permalink Submitted by Bruce Steiner on Tue, 2017-03-07 03:02
No one is familar with this. There were a few private letter rulings allowing a beneficiary of an inherited IRA to do this, but none that would allow a living IRA owner to do this.
Permalink Submitted by Bruce Steiner on Tue, 2017-03-07 03:03
deleted.