California | Wills and Trusts
5/14/00, 11:05 pm
Legal Question
IRA Inheritance Implications
Does it make sense to have a "Living Trust" when the bulk of one's assets are in IRA's? When one spouse dies with a will and the community property laws come into play, the other spouse inherits the deceased's IRA. What about if both spouses die in an accident and there are no other contingent beneficiaries named in the IRA's? Does that mean both IRA's will need to go through probate? Should the wills specify the IRA distribution wishes? Would naming the children as contingent beneficiaries make sense? Is there any way to avoid this, short of a Living Trust??
Thanks,
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