Why Your IRA Is At Risk For Your Beneficiaries | #RichLifeLawyer Show 76
Whether you know this or not, your IRA, while you are alive, is protected from most creditors.
It is protected from most lawsuits.
It is protected from almost everything.
This is not the case, however, when your kids or others inherit your IRA when you die. The reasons for this aren’t that important – *what is important is understanding that all of your hard work and saving could be wiped out in months if you aren’t careful.*
So what is the solution? An IRA Trust.
An IRA trust ensures the funds remain safely away from creditors and others that want to latch on to the money and ensures your loved ones don’t make terrible decisions that waste away all of your IRA funds.
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Christopher is a Bellevue estate planning lawyer with CMS Law Firm LLC. He is a speaker, a blogger, a husband, a father, a golfer, and really good at helping people create the life of their dreams.