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HOW CAN YOU MOVE IRA'S TO A TRUST FUND WITH IT BEING TAXABLE…

HOW CAN YOU MOVE IRA'S...
HOW CAN YOU MOVE IRA'S TO A TRUST FUND WITH IT BEING TAXABLE OR ANY PENALTIES INVOLVED
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Answered in 32 minutes by:
3/19/2018
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,768
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Hello!

My name is***** will assist you today.

Please give me one moment while I review your question and type my initial response

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You cannot put an IRA in a trust while the client is stillliving.

You can, however, name a trust as the beneficiary of an IRA and dictate how the assets are to be handled after the taxpayers passing. This applies to all types of IRAs, including traditional, Roth, SEP and SIMPLE IRAs.

___

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,768
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
Verified
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