By Terry Savage on April 03, 2024 | Financial Planning / Retirement

I have a traditional IRA. I have a living trust. Should I place the IRA in the living trust to make it easier for the relative who inherits my IRA? Easier and/or better terms for withdrawal of funds. Thank you.

Terry Says

No, you can’t do that! You must name a beneficiary for the IRA. Your custodian for the IRA will give you the papers to do that, and you won’t need a lawyer. You can change your beneficiary designation easily at any time.

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