Assuming I am over the Federal Estate Tax exemption amount ($675,000), what are the income tax implications of naming my revocable living trust as the beneficiary of my IRA or 401K? Does this mean that that money would be immediately subject to income taxes in the year of my death? Or, can the money remain tax deferred while the provisions of my trust distribute it, and over what maximum period of time? What if my trust calls for distributing this money to children and the grandchildren over 30 or 40 years. Surely the IRS won't allow this to occur.