Hopefully one of the estate planning attorneys on the forum can help with this. Inlaws have revocable living trusts. They are the trustee of their own trust, then the successor trustee of each other's trust. Upon death, trust assets are distributed to the surviving spouse or 3 daughters if spouse predeceases. I don't think this is anything unusual.
However, both inlaws also have traditional IRAs and have named each other's trust as the primary beneficiary. I'm not sure I've seen this before so just looking for some guidance on whether this is appropriate. I guess I was expecting to see each of them name the other spouse as the primary beneficiary, then the 3 daughters as contingent beneficiaries.
Thanks in advance.
However, both inlaws also have traditional IRAs and have named each other's trust as the primary beneficiary. I'm not sure I've seen this before so just looking for some guidance on whether this is appropriate. I guess I was expecting to see each of them name the other spouse as the primary beneficiary, then the 3 daughters as contingent beneficiaries.
Thanks in advance.
Statistics: Posted by SWYK — Tue Aug 06, 2024 10:29 pm — Replies 5 — Views 351