“Thought for the Day” #657 – by Stephen R. Elville, J.D., LL.M.

February 4, 2016

IRAs that are beneficiary designated to children, nieces and nephews, or other non-spouse beneficiaries should instead be beneficiary designated to a trust for the benefit of the non-spouse beneficiary where asset protection for the beneficiary is desired (protection from the claims of the beneficiary’s creditors; bankruptcy protection).