Reference no: EM133609245
Question: A client wishes to use his $1,000,000 IRA at death to provide ten years of income to his child with the remainder going a charity. What is the best way to accomplish this goal?
1. List a donor advised fund as the beneficiary with the child named as the advisor to direct contributions, allowing the child to name nonprofit charities that offer to directly benefit the child.
2. List a charitable lead trust as the beneficiary with charity payments made substantially all at the end of the ten year trust term due to "shark fin" management of underlying assets postponing income until the end.
3. List the child as the beneficiary of the IRA and verbally inform the child of the intended plan that the remainder should go to charity after ten years.
4. List a charitable remainder trust as the beneficiary of the IRA with payments to the child for ten years, remainder to the charity.
5. List the estate as the beneficiary and write in the will that $1,000,000 from the estate should be placed into a charitable remainder trust with payments to the child for ten years, remainder to the charity.
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