Have you made arrangements for your IRA (or 401k) distributions at death?  Who did you list as your beneficiary? Is your minor child listed as a contingent beneficiary?  Do you know that listing a minor child as a beneficiary entitles him or her to cash out, DEPSITE THE HUGH TAX LOSSES AND FUTURE GROWTH, at 18 years old! If you want your hard earned funds to last, then you need to call me and execute a trust.  These trusts will help you meet several goals.  First, you should think about deferring your child’s cash-out-option to an age that you believe he or she will make the right choices. I know we don’t have a crystal ball, but a lot us know that 18 years of age is clearly too young. Remember, these plans are entitled to tax deferral, which adds tremendous growth. Second, you need to choose who administers the plan for your child.  This person is named the Trustee. He or she has the responsibility to follow the terms of your trust, consistent with your wishes. Third, you’ll need to consider contingent beneficiaries if your child passes before you do. Here, you may want to list someone younger then your child. I’ll explain to you the implications of your contingent beneficiaries.