Media Coverage

Revocable Living Trusts: We Answer Your Questions

March 4, 2020

Barron's spoke with Thomas Woessner, a partner in the firm's Business and Transactions Department, for their piece, "Revocable Living Trusts: We Answer Your Questions About How They Can Help Your Estate Plan."

"It will be more beneficial to leave a traditional IRA—or a specific amount from the IRA—directly to a charity because the charity will receive the full amount and not pay income tax on the distribution, says Tom Woessner, a partner who focuses on trusts and estates for the law firm Ballard Spahr. If you name the trust as beneficiary, the trust, after your death, may be responsible for paying the income tax before doling out the money to charity; the charity would still receive its money, but it could mean less money left over for the other trust beneficiaries."

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