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We, as estate practitioners, believe in and preach deferral for such accounts. However, the world of a 25-year-old doesn’t readily accommodate such concepts, who is more likely to value the benefits of a shiny new car, fancy stereo system, and great parties. We regularly assist our clients in establishing strategies to avoid young and financially immature beneficiaries having full control of IRA’s, yet maintain full compliance with all minimum distribution rules. This strategy involves the use of sub-trusts to receive the qualfied plan distribution, giving the Trustee the ability to defer the distribution to the heir while complying with the minimum distribution rules of the IRS code.

The State of Arizona has adopted a new trust code effective January 1, 2009. The code expands our trust law in a number of respects.