Question : Can you hold an IRA in a living trust?
Can an IRA be moved into a living trust? Can a living trust be named as the beneficiary of an IRA, if the IRA owner is still alive?
- asked by JB
All Answers:
Answer #1
Yes... see this website for pros andcons
http://www.nolo.com/article.cfm/ObjectID/F492C147-2B7C-4945-AA26C359194A201D/309/227/QNA/Myestate lawyer advised against putting the IRA'sinto the trust.
- answered by Space_Cadet
Answer #2
You can name a trust as the beneficiary. That canonly be done while the owner is alive, but has notmeaning until they die. The IRA can't changeownership and remain an IRA. Any transfer, exceptto another IRA owner by the same person, it awithdraw.Note: The article linked by space cadetis about making a trust the beneficiary of theIRA. That is NOTHING like making the trust theOWNER of the IRA.
- answered by STEVEN F
Answer #3
I don't think so, by definition an IRA is for anindividual. Every IRA requires a social securitynumber, and a trust does not have one.You cannoteven have a joint IRA.You can have a trust as abeneficiary though.
- answered by Feeling Mutual
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