For your trust to be the beneficiary of your retirement plans your trust must be a “Qualified
Trust”. Some of the requirements for the trust to be qualified include the trust being valid under state law, the trust being irrevocable at death and the beneficiaries of the trust being identifiable. There are many benefits to having a qualified trust and being able to name your trust as the beneficiary of your retirement plans. Some of the benefits include being able to stretch out the retirement plan over your children’s life expectancy while sheltering it from their creditors, ex-spouses, or long term care spend down. You should meet with a qualified estate planning attorney to make sure your trust is qualified before you make this beneficiary designation on retirement plans.