IRA beneficiary
Per the podcast on your site, I don’t need to put my IRA into my revocable living trust. What happens, upon my death, if I name my minor child as the beneficiary of my IRA?
Terry Says
You should NOT name a minor child as beneficiary. The adult guardian would automatically take control in some states. In other states, the court would appoint a financial guardian. Neither is a good option.
If you want to help a minor child or grandchild, open a 529 college savings plan.
