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Registered
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Tax question for the brain trust
So some random guy has everything he owns in a revocable trust except, say $200,000 in a traditional IRA outside the trust. He's not planning to die anytime soon, so he wants access to it until he dies but when he dies he wants about $200,000 to go to a certain government approved 501 c3 charity. If he makes the charity the beneficiary of the traditional IRA, when he dies does the money go straight to the charity without ever being taxed?
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. Last edited by wdfifteen; 02-04-2012 at 05:46 AM.. |
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19 years and 17k posts...
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Sounds like you need a consult with a tax attorney who's familiar with trusts and your specific state laws. Good question here...
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Art Zasadny 1974 Porsche 911 Targa "Helga" (Sold, back home in Germany) Learning the bass guitar Driving Ford company cars now... www.ford.com |
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Fleabit peanut monkey
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