IRA Beneficiaries and Estate Planners
I’ve had two clients recently get there estate plan in place. In both cases, the clients wanted to optimize the stretch. I asked the attorney in each case a few tactful questions to be sure the estate plan allowed for this and how they would advise beneficiary designations.
In one case, the attorney answered the questions and gave the “whys” behind his beneficiary recommendations. He recommended because the kids are minors: wife primary,trust as contingent. And his explanation made sense.
In the other case (a very similar situation), the attorney was evasive and rude and never answered the questions. Though he sent over 30 pages of white papers to the client. And just said….”it’s complicated.”
Question: isn’t an estate planner supposed to help the client and the adviser understand their options? Is it common for an estate planner to punt on the issue?
Any thoughts/comments appreciated.
Permalink Submitted by Alan - IRA critic on Tue, 2017-12-26 22:14
I wouldn’t think that the second case would be typical, but the second attorney has created a large amount of doubt over the quality of the entire product, and after a considerable cost has already been incurred. Perhaps the second client should re approach the attorney and re phrase the questions, could have just been a very bad day for that attorney.