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Beneficiary IRA Trust? Approached by an insurance person?
Old 02-27-2018, 09:38 PM   #1
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Beneficiary IRA Trust? Approached by an insurance person?

My brother's FIL was visited by an insurance guy which described a "Beneficiary IRA Trust". It described how RMD's could be avoided.

Questions:

1) Can someone describe this product? I'm only knowledgeable in Beneficiary IRA's where I'm taking an RMD.

2) What's in it for an insurance guy? I could see an estate attorney handling something like this.
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Old 02-28-2018, 01:11 AM   #2
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This link to a Forbes article will explain your questions plus a lot more.

https://www.forbes.com/sites/deborah.../#1ffef0e8172b
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Old 02-28-2018, 05:27 AM   #3
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I may have read it wrong, but it seems to me that the Beneficiary IRA Trust does not avoid RMD's. It avoids the need for the beneficiary to pay taxes on the receipt of the IRA funds all at once, and allows the beneficiary to begin a new series of RMD's instead, paying taxes slowly.
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