Should I make my trust the beneficiary of my 401(K) or other retirement plan in Chicago, Illinois?
Asked in chicago, IL on May 2, 2023 Last answered on April 24, 20261 answer
There is no set answer for this question. Since the Secure Act of 2000, it has become less advantageous to name your trust as beneficiary of retirement accounts. However, depending on your personal situation and overall assets, there can still be very good reasons to name your trust as beneficiary of one or more of your retirement accounts. You should consult with a lawyer who concentrates their practice in estate planning to get personalized advice on this question.
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