72t & a trust
L1: 72t & a trustI’m am about to start SEPP distributions. I am 52 this year. I am currently unmarried and have no children.
At some point I plan to set up a trust for anything left over when I die. Is there any reason a trust would complicate the 72t distributions?
2017-10-06 21:00, By: Todd, IP: [220.127.116.11]
L2: 72t & a trustA trust beneficiary on your IRA will have no effect unless you wanted to use the joint and last survivor Table with the RMD method, and there is no good reason to consider using that method for your 72t calculation. If you should pass before the 72t is completed, your death would end the 72t plan without busting it, so again having a trust named as beneficiary would have no effect. If you proceed with the trust and name it as beneficiary (the trust cannot own the IRA) be sure it is considered a qualified trust for look through purposes.2017-10-06 23:11, By: Alan S, IP: [18.104.22.168]
L3: 72t & a trustIn your circumstances, why do you think that you need a Trust for any reason, or as beneficiary of your IRA ?
If you do not have an Estate over $ 5.6 million, there isn’t any Estate tax. IRA’s and Life Insurance do not get included in Probate.
You should probably meet with a professional advisor to discuss your situation.2017-10-06 23:52, By: dlzallestaxes, IP: [22.214.171.124]