Q: Do you think it is appropriate to name a living trust as beneficiary of a 403(b) account? The attorney told my client he is doing that to escape probate on the 403(b) distributions.
A: Keeping in mind that 403(b) assets are paid directly to named beneficiaries WITHOUT BEING SUBJECT TO PROBATE, I believe the attorney is mistaken in naming the living trust to escape probate. Your client should have a discussion with the attorney regarding his recommendation.
Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...