Academy of Special Needs Planners co-founder Harry S. Margolis was recently interviewed by Vanguard Investments about plannin...Read more
ASNP Co-Founder Wachbrit Quoted in Wall Street Journal
Academy of Special Needs Planners co-founder Diedre Wachbrit was quoted in a recent Wall Street Journal article on the various tools to ensure that a minor child can receive the benefits of an Individual Retirement Account (IRA). Wachbrit, an attorney in Westlake Village, California, noted that although it is possible to name a minor child as a beneficiary of an IRA, minors cannot directly inherit an IRA. Therefore, when planning an estate, parents should create a trust to administer the IRA until the child reaches the age of 18.
Wachbrit pointed out that an accumulation trust is worth considering if the child receives public benefits for special needs. IRA withdrawals are kept in the trust, which, if it is a special needs trust, will allow the child to retain eligibility for public benefits like Medicaid.
To read the Wall Street Journal article, click here (paid subscription required).
To visit attorney Wachbrit's Special Needs Answers home page, click here.
Created date: 10/25/2006