I have a large sum of IRA and Roth IRAs. My son is the beneficiary.
Looking at the taxes he would have to pay at my demise, i.e. ira added to his income would put him high up the tax ladder.
I wonder if a good option would be in making the 2 grandsons the beneficiaries for part of it.. (Age 5 and 10.)
If so, what would be the best way of doing it, trust of some type ?
Looking at the taxes he would have to pay at my demise, i.e. ira added to his income would put him high up the tax ladder.
I wonder if a good option would be in making the 2 grandsons the beneficiaries for part of it.. (Age 5 and 10.)
If so, what would be the best way of doing it, trust of some type ?