Surprisingly, 55% of Americans don’t have a will, but they’re crucial documents since they direct the distribution of your assets after your death. Without one, state laws determine who gets your assets, and your heirs may face delays and expenses trying to claim their inheritance. Here are some key facts about wills:
Tag: trust
Naming a Trust as a Beneficiary
It is advantageous to name a trust as a beneficiary if your beneficiaries are minors, have disabilities, or cannot be trusted with large sums of money. To avoid future estate tax issues, some attorneys also recommend establishing a special trust as an IRA beneficiary to prevent its assets from becoming part of a surviving spouse’s estate.
