Legal Question in Wills and Trusts in Missouri

Individual Retirement Account

My clients, husband and wife, have over $400,000.00 in several IRAs. The remainder of their assets can be transferred on death under Missouri law. I have come across several articles on the subject of how to avoid taxes on the beneficiaries. Should a revocable living trust be advised as alternate beneficiary or what? What about a QTIP trust? I never heard of A QTIP trust.


Asked on 8/12/99, 4:04 pm

1 Answer from Attorneys
Bernard Greenberg KOKISH & GOLDMANIS, P.C.

Re: Individual Retirement Account

Planning for IRA accounts can be complex. You should engage the services of a qualified expert to assist you and your clients in knowing their options and the consequences of each. However, a revocable trust will offer no tax savings. A QTIP trust can assist in permitting the surviving spouse to maintain income tax deferral but not subject the account to any new spouses or creditor claims of the surviving spouse.

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Answered on 8/17/99, 4:54 pm


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