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This thread has been interesting and has come at an opportune time. My wife died intestate in 2019 several months after her mother died leaving her a significant estate. The California Probate Court assigned me the role of administrator. I named my 3 children as POD beneficiaries on all accounts at banking institutions and as TOD beneficiaries on all brokerage investment and IRA accounts.

I recently realized that this presented a problem with how to deal with debts and taxes in the year that I died. All the wealth would have been transferred to the beneficiaries. I have scheduled a meeting with a law firm that does estate planning in December.

One question that I have is does it make sense to have a trust as a beneficiary of an IRA instead of using a TOD? The only function(s) that need to occur are splitting the IRA into three equal parts and are titled as Inherited IRA for each beneficiary?
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