Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: emma06 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 86  
Subject: Re: RLT as 2nd Benificiary for Funds Date: 7/27/2005 11:34 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Let's say the primary and secondary beneficiaries on the mutual funds are identical to what's in the trust. By naming the trust as a secondary beneificary the lawyer would act as a middle man and take a hefty cut, don't you think ?

I think that would be the case only if the lawyer were the trustee or executor, as well as being the lawyer who drew up the trust.
________________________

My trust is set up to have a lawyer as the trustee. I intend to name the trust as beneficiary for my taxable accounts but I'm looking to have my IRAs stretched out by naming the beneficiaries to handle it themselves. I suspect my lawyer would liquidate the IRA's and payoff the beneficiaries or he might even stretch it our over time and make money off the trust on a yearly basis. I'm thinking the best approach is not to name the trust as beneficiary for my IRAs. Any thoughts ?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

Berkshire Beyond Buffett Event
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement