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Updated about 4 years ago, 10/29/2020

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10
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0
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John Cava
  • Architect
  • Portland, OR
0
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10
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Living Trust Beneficiary for Real Estate IRA

John Cava
  • Architect
  • Portland, OR
Posted

Hi - I'm transferring assets into and changing the beneficiary of various other assets into a Revocable Living Trust. Divorced with 2 smallish kids at the moment and the idea is to have the Beneficiary Trustee manage the trust in the best interests of the kids. A bit complex, but pretty smooth sailing (done online with a great service) except when I get to my Self-Directed IRA, a checkbook LLC with just one rental property, which is itself an "inherited IRA" so it has its own subset of rules (!). Especially with the passage of the Secure Act which further complicates things. So...2 questions:

1) Anyone have recent experience with something like this?  Ideally, it would pass into the Trust (upon my demise or incapacitation), whereupon the Trustee would manage it, even if subject to the 5 or 10 year rule.  But it's very unclear how to do this and whether there's a better way (set up a different type of Trust for this asset).

2) In the event I'm stumped or worried I don't have it right, anyone have an Oregon estate planner/attorney who might specialize in the IRA world?

Thanks!   John

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