No! Retirement accounts, like a 401(k), 403(b), or Individual Retirement Account (IRA), must stay in your individual name and an RLT cannot be the owner of such account. If you were to change the ownership to a Trust, the retirement account would have to be cashed out, and a trust-owned non-retirement investment account would have to be opened. This would result in early withdrawal penalties (if you were under 59 1/2 at the time), income taxes (for non-ROTH accounts), and the loss of opportunity for tax-free growth during your life – so all in all a complete disaster! You may name a Trust as a beneficiary of a retirement account, but this should be carefully considered to ensure the Trust qualifies as a designated beneficiary.
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