Decedent ira named testamentary trust as beneficiary of the IRA.
Trust beneficiaries are 501(c)(3) orgs. should beneficiaries create ira's and
roll over their portion of the decedents ira? or should the trust redeem the
IRA and distribute to the 501c3s?
9c
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What does the trust agreement say about distributions? If the nonprofits were setup to be the ultimate beneficiaries, I assume the money was going to make a brief stop in the trust and then turned over to the beneficiaries to continue to pursue their mission purpose.
As a side note, you have to be an individual to own an IRA so I don't think the nonprofits are going to have much luck creating their own IRAs.
What does the trust agreement say about distributions? If the nonprofits were setup to be the ultimate beneficiaries, I assume the money was going to make a brief stop in the trust and then turned over to the beneficiaries to continue to pursue their mission purpose.
As a side note, you have to be an individual to own an IRA so I don't think the nonprofits are going to have much luck creating their own IRAs.
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