If the Trust is listed as beneficiary of the IRA, and the Trust becomes Irrevocable, wouldn’t the Inheritor of the IRA then be the Trust itself? Consequently the tax reporting ID of the IRA of now the Trust, which has considerably higher tax brackets compared to individual brackets. Is there something I’m missing?
If the Trust is listed as beneficiary of the IRA, and the Trust becomes Irrevocable, wouldn’t the Inheritor of the IRA then be the Trust itself? Consequently the tax reporting ID of the IRA of now the Trust, which has considerably higher tax brackets compared to individual brackets. Is there something I’m missing?
Thank you Lee. I love your channel ❤
Great advice, Lee. Any chance you'll create a video on how to use a trust?
Did one back in 2017 that is still valid: ua-cam.com/video/xWGeO20DEcg/v-deo.html
Hmm, not sure this is 100% clear/accurate/optimal.
U need a professional youtube thumbnail designer?