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Originally Posted by FL2021
For accounts such as 401k, IRA, Roth, etc., we received a mixed advice from our legal and financial services as to whether our children or the Revocable Trust should be named as the secondary beneficiary (after spouse being the primary).
For those of you who have already walked this path, is there a simple answer to this?... or perhaps there are pros & cons to either one? e g., difference in tax implications?
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The attorney that drew up our trust had us designate a primary and secondary beneficiary for our investment accounts outside of our trust.