Passing Retirement Plan Assets

A recent Wall Street Journal article discusses the basics of passing retirement plan assets after death, covering the following:

• The use of beneficiary designation forms to pass the retirement plan assets to chosen loved one.
• The benefit of leaving retirement plan assets to a trust for the benefit of loved ones who can’t manage the assets.
• The role a durable power of attorney may play for a beneficiary spouse who later becomes incapacitated.

See Kelly Greene, How to Hand Down Assets in Retirement Plans, WSJ, Nov. 21, 2009.

Special thanks to Patrick S. Sylvester (Attorney & Counselor at Law, Sylvester Law Firm, PC) for bringing this article to my attention.