PLAN can accept your Inherited IRA
Date posted: November 15, 2023
Why consider naming a Third-Party Special Needs Trust, administered by PLAN, as a beneficiary of your IRA or Qualified Retirement Plan?
Often, retirement assets represent a major portion of an individual’s wealth. As such, you want some or all of these moneys to be allocated to your beneficiary with special needs to ensure that their care will continue, and their needs will be met during their lifetime.
What are the benefits of naming a Third-Party Special Needs Trust, administered by PLAN, as beneficiary of your IRA or Qualified Retirement Plan?
By naming the Third-Party Special Needs Trust as beneficiary of your IRA or Qualified Retirement Plan, you are able to spread out the taxation of these moneys over the lifetime of the special needs beneficiary. This could reduce the overall tax burden of the IRA or Qualified Retirement Plan, as those assets are typically taxed as ordinary income.
PLAN is a Qualified Retirement Plan.
PLAN can accept Inherited IRAs without any tax consequences.