Thursday, December 26, 2013

Trusteed IRAs

When IRAs were introduced in 1974, they sounded complicated. An IRA had to be more than just an account. An IRA had to have a bank as custodian or trustee.

Ferrari 458
Long ago that technicality vanished from public view, but now it turns out to be useful. Enter the trusteed IRA. The trustee sees to it that the beneficiary (nobody needs a Ferrari, dude!) takes no more than the required minimum distribution.

Julie Jason discusses trusteed IRAs here and offers an example.

1 comment:

Jim Gust said...

As it happens, Julie Jason is a family friend. I will always know her as Jura Jakulis.