Immunize Retirement Accounts from Beneficiaries’ Affluenza

Many people give considerable thought to the criteria that will govern the distribution of trust assets to their beneficiaries. The purpose of such criteria is to ensure that an inheritance will enhance the beneficiary’s life without destroying their initiative by transforming them into a trust fund kid. However, because IRA and other retirement accounts are not trust assets your beneficiaries receive those funds without any of the distribution criteria that apply to trust assets. If a significant amount of your estate is held in an IRA or other retirement account it may be appropriate for you to set up a Retirement Trust that contains the same distribution criteria as your main estate planning trust.

Please contact me to discuss how a Retirement Trust can immunize your beneficiaries from an attack of “Affluenza” (a condition where they inherit your retirement funds and immediately spend them on material possessions you would never have considered purchasing for yourself).