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Please guide us in selecting beneficiary designation for our retirement plans including ira's and life insurance proceeds. My wife & I would like our children and grand children to inherit our left over retirement savings (whatever we do not use up in our life time). Do we need to include their one parent as trustee in the designation? Would it be tax-wise strategy on our part to name minors and/or their parents as beneficiaries instead of our spouses? Can beneficiaries other than spouses like a living trust roll over proceeds to the ira's? Is living trust designation the proper way as an estate planning? Would it be a correct designation: My daughter/son/living trust as trustee for our grandchildren or my wife/husband trustee for a young son? I believe our children/grand children can spread over pay off over their life times or roll over if allowed by rules.
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