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Subject:  Re: Trusts & IRAs Date:  12/14/2012  2:03 PM
Author:  mawhinney Number:  18123 of 20593

We have talked to several SC attorneys who have recommended a trust to avoid Probate and years of attorney fees. With a simple Will if my husband dies first & I am named primary beneficiary, everything would pass directly to me sans going to court. It is after I pass or if we we both pass together that everything would need to go through Probate. In SC it takes about 2 years to go through Probate. A home can not be sold or assets distributed until that process is finished. I we have a properly organized Trust, our assets would be distributed immediately and it would not involve the courts.

It would cost $2500-3000 to set up a Trust. The attorney's office would handle all the paper work to properly title assets. Expensive yes but less expensive that Probate and inusing attorney expenses.

I was asking if IRAs should be included in a Trust as I remembered reading that there may be some tax benefits regarding withdrawals if inherited IRAs are not part of a Trust.
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