A Firm You Can Trust Combining Experience With Heart

IRA Beneficiary Trust Lawyer in Los Angeles

Helping Clients Maximize Tax Benefits

Tax-deferred retirement plans, such as tax-deferred annuity contracts, 401(k) plans, 403(b) plans, IRAs, pension plans, profit-sharing plans, or other company-sponsored retirement plans may be eligible for an inherited rollover, which only an individual can do and a trust cannot. To maximize tax benefits, your trust should include “conduit trust” provisions.

To learn more, or to discuss your legal options with a skilled Los Angeles IRA beneficiary trust attorney, reach out to the Law Offices of Maria N. Jonsson, PC.

Contact our firm online or call (310) 935-0706 to get started with a consultation.

When Are IRA Beneficiary Trusts Appropriate?

Depending on your specific circumstances, it might be appropriate to name individuals, rather than your living trust as the “pay-on-death beneficiary” for the previously mentioned assets. However, the named beneficiaries may choose to “cash out” the IRA, at which time they will pay a very hefty tax.

Alternatively, a revocable IRA beneficiary trust can be set up and named as the beneficiary of such retirement accounts. This trust is also appropriate when the intended IRA beneficiary is a minor; the IRA trust allows the assets to be immediately available for the care of the minor beneficiary, rather than frozen until the minor reaches age of majority (18) and can access the accounts, or rather than having to establish a guardianship estate for the minor beneficiary so as to access the funds for his/her benefit.

How These Trusts Work

The IRA assets are protected in trust by way of spendthrift provisions (which block access to the funds by the beneficiary’s creditors). And the assets will be subject to RMDs (required minimum distributions) that will be stretched out over the life expectancy of the beneficiary. Also, the trust will name contingent beneficiaries to ensure continuity in the event the main beneficiary dies to his or her own descendants.

Speak to an Experienced Estate Planning Attorney Today

The Law Offices of Maria N. Jonsson, PC is proud to serve clients in Marina del Rey, Venice, and the surrounding areas, offering comprehensive estate planning services for individuals, couples, and families. Our IRA beneficiary trust lawyer in Los Angeles can help you find innovative and personalized legal solutions that protect your best interests and the best interests of your loved ones.

To schedule your consultation, please call (310) 935-0706 today.

  • We Work as Part of
    a Larger Team

    We work with our clients' financial planner, CPA, realtor, and insurance broker to implement a well-rounded and thorough legal plan for wealth preservation and inheritance transfer.

  • Strategic Planning &
    Attention to Detail

    We carefully look at each factor that affects the execution of an estate plan – from the perspective of minimizing and eliminating reassessment of property taxes to avoiding post-death conflicts.

  • Mediator by Training & Peacemaker by Heart

    We believe that an estate plan should leave behind not only property, but most importantly – harmony, rather than tear families apart with poorly drafted or ambiguous and confusing term