QUESTION
What role does a trust and an appointed trustee play if only one sibling is listed as the beneficiary of the IRA?
Asked on Feb 24th, 2018 on Trusts and Estates - California
More details to this question:
My brother is listed as the beneficiary of an IRA upon the death of our father but the trust states that the IRA is suppose to be distributed equally among the siblings. Is the trust null and void because my brother is the beneficiary of the IRA? And what role does the trustee play in this situation since my brother does not want to distribute the IRA equally. We live in Los Angeles.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
at
Price Law Firm, APC
Update Your Profile
A trust can only transfer the assets that are held in the name of the trust.
If the IRA was in your father's name and he named a beneficiary, then that beneficiary receives the IRA.
If the IRA was in the name of the trust, then the terms of the trust would control.
Answered on Feb 25th, 2018 at 9:34 PM