Should you name your living trust as the beneficiary of your life insurance policy? Is it better to name specific individuals as direct beneficiaries? This decision can have significant ...

The significant exception to this rule is trusts. You can name a legal minor as the beneficiary of a trust. That’s particularly important because, if you want to leave assets to a minor ...

What happens if I don't name a beneficiary? Bottom line Simply put, a beneficiary receives your assets after you die. It can be an individual, a charity or a trust that you've set up.

The only real restriction is for minors, as you would need to designate a trust or legal guardian as the beneficiary to provide them the death benefit. While you can name anyone as a beneficiary, just ...

Many readers ask me if there are any advantages in naming a trust as an IRA beneficiary. Although the IRS made slight improvements in the SECURE Act regulations in July, using a trust as an IRA ...

You can’t name a pet as a life insurance beneficiary because they’re considered property. However, you could make a pet trust to receive the life insurance money and maintain care of the pet.

If Harry dies first, the IRA cannot be used to fund a bypass trust unless the trust—or Harry’s estate—is named as beneficiary. Since the couple can’t use a bypass trust, Betty’s taxable estate would ...

In reality, life tends to become much more complicated when a trust or estate is named as a retirement account beneficiary—but that doesn’t mean the inherited IRA funds will automatically be ...

Matthew Perry’s half-siblings were named as the trust beneficiaries in the actor’s last will and testament, which was filed five months after his October 2023 death. “All my personal and ...