Childless Couple With $2M in IRAs Told to Weigh Wills vs. Trusts to Shield Estate

A married couple in their 50s with roughly $2 million in 401(k)s and IRAs and no children should establish both a will and consider a revocable living trust to protect their assets, according to financial advisers responding to a reader inquiry published Sept. 22, 2026. The couple, ages 52 and 56, own three homes across multiple states, two cars, two boats, three recreational vehicles and a marina slip. Without a will, state intestacy laws would distribute their estate to living parents or siblings, potentially triggering probate in several jurisdictions. Advisers recommend naming primary and contingent beneficiaries on every retirement account so the surviving spouse can roll funds into their own IRA. A trust could avoid ancillary probate on out-of-state property held in the wife's mother's name and provide continuity if either spouse becomes incapacitated. The couple should also execute durable powers of attorney, advanced healthcare directives and consider long-term-care insurance. Advisers cautioned against online or handwritten wills, which carry legal risk in about half of U.S. states.