My question involves estate proceedings in the state of: California
So after a living trust was created, I was instructed to change my individual accounts and my financial institutions into a trust account. This is because in case where I become incapacitated, my successor can manage the account.
I don’t understand why I’m not supposed to change the retirement accounts into trust accounts? If I become incapacitated, doesn’t someone also need to manage them?
Is there a disadvantage to putting the trust as beneficiary in the retirement account as opposed to naming a person as a beneficiary?
So after a living trust was created, I was instructed to change my individual accounts and my financial institutions into a trust account. This is because in case where I become incapacitated, my successor can manage the account.
I don’t understand why I’m not supposed to change the retirement accounts into trust accounts? If I become incapacitated, doesn’t someone also need to manage them?
Is there a disadvantage to putting the trust as beneficiary in the retirement account as opposed to naming a person as a beneficiary?
Trusts: Individual Accounts to a Trust Account
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