Did you know that f you list your three children as your beneficiaries on your IRA and one of your children predeceases you that child’s children may get nothing? Did you know that if you name a minor as a beneficiary, they can’t legally own that IRA? Many parents form a trust for their children and name the trust as the IRA beneficiary but only certain trusts can be the beneficiary of an IRA. There are only a few of the complications that result when you combine IRAs and minor children in your beneficiary designation. There are options so you may want to contact your attorney or financial advisor for more details.
Kids and IRAs
