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Greetings, Nick, and welcome. You asked:

. I have heard many people say that naming a living trust as beneficiary of an IRA is a bad idea, but it seems like this is the best way to do this. If it is not, what should I do instead?

With the trust as beneficiary, upon the death of both myself and my spouse, will the children still be able to spread distribution or the remaining IRA assets over their lifetime, or will it accelerate when they inherit it?

It's not necessarily a bad idea to do so. You just have to be careful to jump through all the hoops when you do. I wrote about those hoops in "A Trust As An IRA Beneficiary" at

While those rules still pertain, the new rules on IRA minimum required distributions make it somewhat easier to pass IRA monies through to the trust beneficiaries based on their life expectancies. See Natalie Choate's piece at for an explanation of those trust rules.

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