See-through Synonyms, See-through Antonyms | Merriam-Webster Thesaurus
See-through trusts let IRA owners choose who will be the beneficiaries of the account, after the owner is deceased. But there are very specific limitations and logistical requirements surrounding these vehicles.
In order to set up a trust as a designated beneficiary of a retirement account, several requirements must be satisfied, including the following mandates:. Although an IRA owner maintains the legal right to name whomever he wishes to be the beneficiary of his or her IRA, due to the fact that Congress does not wish these accounts—and other similar retirement accounts--to have the ability to continue indefinitely after the original IRA owner passes away, the beneficiaries are mandated to take required minimum distributions RMDs.
In order to calculate the RMDs, see-through trusts rely on the life expectancy of the beneficiary.
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Another type of common trust is a marital trust or fiduciary relationship between a trustor and trustee , which benefits the surviving spouse and any heirs of the married couple. Also called an "A" trust, a marital trust takes effect when the first spouse dies. Assets are moved into the trust upon death, and the income that these assets generate funnel to the surviving spouse. When the second spouse dies, the trust then passes to its designated heirs.
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