Irrevocable Cont. Beneficiary

Is there a way to make sure that once the Owner of an IRA passes and the primary becomes the new owner that the orginal owner(deceased) can make sure that the cont. benf now become the new primary regardless of whether the new owner wants this.

W/o using a trust

Thanks



No, not without a trust……unless you can find an IRA custodian that will accept a beneficiary designation specifically customized to do this. And I doubt if that is possible. Many custodians are resisting customization, likely out of fear of legal expenses.

Another idea to check out is a “trusteed IRA” offered by Merrill Lynch. This is a combined trust and IRA product that would potentially be much more inexpensive than a standard attorney drafted trust. You might check with them. Don’t know if there are other beside ML offering this.



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