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IRA Beneficiary Claim Request Wells Fargo Advantage Funds  Form

IRA Beneficiary Claim Request Wells Fargo Advantage Funds Form

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more than 60 million americans own iras and most of them name a spouse or a child is the beneficiary some name charities all good choices but from a financial planning standpoint should a trust ever be the beneficiary it may make sense because ira assets are shielded from lawsuits business failures divorce and creditors that's protection heirs don't get when they inherit an ira directly if a trust is beneficiary of the ira the beneficiaries of the trust have access to the ira funds and the terms of a trust can dictate how distributions are made when it involves an heir who is a minor disabled financially unreliable incapacitated or someone who may be vulnerable to being preyed upon there are some reasons naming a trust as beneficiary may not make sense if you plan to leave the ira to a spouse that person can roll those assets into their own ira tax-free costs can be a factor there's a cost to create a trust the cost to maintain it and the cost of hiring a trustee or accountant to watch

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