IRS Ruling: Update Your Estate Plan Now Or Suffer Economic Consequences
By Michelle C. Lerman
February 3, 2010
realestateinvestorlaw
Attorney Michelle Lerman discusses PLR 200742026, in which the IRS rules that decedent IRA’s must have a beneficiary designated prior to the date of death. Moreover, the ruling trumps state rulings to the contrary…
“An IRS private letter ruling highlights the importance of an updated estate plan. In Private Letter Ruling No. 200742026, the IRS ruled that even a state court order could not salvage the damage caused by an out-of-date beneficiary designation form.”
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