Inherited IRA Special Needs Trusts

Speakers: Darryl J. Lynch and Martin M. Shenkman

If a special needs child or other beneficiary is mistakenly named as a beneficiary of an IRA or retirement plan instead of a supplemental needs trust, a private letter ruling may offer a path to move the funds into a supplemental needs trust. Caution must be exercised as private letter rulings are only binding on the IRS to the taxpayer to whom issued. You also must have a special needs attorney in your state confirm this will work under your state law before proceeding.

Handouts

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