Our office is actively involved in drafting IRA TRUST’s providing all of the essential terms and conditions necessary to pass scrutiny of IRS regulations and guidelines.
We properly administer each Trust in full and complete compliance with regulations and work closely with Trustees and Brokerages firms to insure the IRA Trust remains in tact for the duration of the provisions contained therein. We place essential terms into the Trust to consider the contingencies that may arise over the years.
The IRA Trust is the safest and most efficient tool in passing IRA’s from generation to generation with maximum tax deferral an asset protection. However, it can be a time bomb if not properly drafted and overseen by a professional.
Unfortunately we have found that a number of IRA Trusts have been administered inproperly. In a recent case the trust beneficiaries had damages that were in excess of $500,000. In another case, the damages exceeded $2,000,000. Many other cases involved damages in the range of $50,000 to $1,000,000.
Goldberg & Goldberg PC
445 Broadhollow Road
Melville, New York 11747