Hypothetical situation: Happy, healthy couple has potential estate valued at over $2 million, wanting to bequeath proceeds (whatever it's called) to children for the benefit of grandchildren (each child has some children). The major portions of liquid/semiliquid funds are in IRA-type accounts (IRA, Roth, 403b7). Advice was given that even via trusts, the proceeds would count as income to the recipients, and thus would be subject to income tax, even if not subject to US or NJ estate taxes. One suggested alternative would be to set up life insurance policies with the grandchildren as beneficiaries. I'm asking for comments and alternative suggestions, including links to trusted web sites before the official TIAA advice will come in. Thanks in advance!
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