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" ... Advisers generally say you should update wills and revocable trusts for big events like births, marriage, divorce, etc. With no will, we do not know what the decedent wanted, and that is where state law usually comes in. Curiously, marriage saves estate taxes, but some unmarried people still give their assets to a non-spouse loved one. For example, Seymour Hoffman gave his $35 million estate to Marianne O’Donnell, but they were never married, triggering more estate tax than if they had been married. Of course, not having a will is even worse and can foment litigation. After dying without a will, singer John Denver’s family spent six years in court. But a will still has to go through the courts. ... "
" ... Another exception was discussed in a recent IRS ruling and shows there might not be a penalty when your spouse’s revocable living trust is named as the IRA beneficiary. ... "
" ... Bottom line. IRA owners will now need to rethink their estate plans and may want to modify their beneficiary designation and revocable trust provisions to provide maximum benefit to beneficiaries as a result of the major change caused by the SECURE Act. ... "
" ... Leave $100,000 to charity through your will or revocable trust and $100,000 to your heirs as the beneficiary of your Traditional IRA. ... "