Naming Private Foundation as Beneficiary of IRA

[chris]

Does anyone see any drawbacks to client's naming a private foundation set up by him as the beneficiary of his IRA???

------------------

[Guest P A Weick]

The client could not choose to spread out distributions to himself after 70 1/2 other than over his or her own life expectancy (i.e. no distributions over joint lives) which might mean higher income tax for the client. Otherwise I cannot think of a tax problem in distributing it at death to the private foundation.

------------------