For example, Choate says, you can make Mom the trustee, allowing her to decide how the money is invested.
Estate lawyer Choate speculates that Vanguard could end up getting sued anyway--by beneficiaries who were accidentally bumped.
Taxpayers who now are reversing 2011 Roth conversions need only wait 30 days to reconvert the same money, Nutter's Ms. Choate says.
Choate suggests this alternative: Name your spouse as primary beneficiary of your IRA and your credit shelter trust as the contingent beneficiary.
Choate, an expert in the arcane and trap-strewn area of inherited IRAs.
Worse, the interplay between IRA and trust rules is so tricky that drafting mistakes are common, says Boston retirement plan and estate attorney Natalie Choate.
Even if you can't convert, "if you're overweighted in an IRA, you should always be looking for a low-tax way to get the money out, " says Choate.
"People are thinking that the pullback we experienced is maybe enough for now, " said Reed Choate, portfolio manager at asset manager Neville, Rodie Shaw in New York.
Choate suggests that older couples with large traditional IRAs try to convert some of that money into a Roth IRA. You pay tax immediately on the full amount converted, but any further growth is tax free.
Pat Choate, who is the author of Hot Property, a book on the theft of intellectual property, argues that if the new patent regimen had existed when corporations like Apple and Microsoft first got going, they might never have made it out of the little leagues.
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