Very similar experience. Multiple agents, multiple answers.
I do not think your children will inherit IRAs. Not to dissuade you or persuade you but the government is sort of eyeing IRA accounts as a way to save social security from its problems. My amateur economists guess is they will someday absorb the IRAsm into the SSA fund. I think a similar thing may happen with these states with underfunded state pension programs, that they will be absorbed somehow as the tentacles of the ever growing federal leviathon expands maybe take all states into a national program royally screwing the states that acted responsibly.
I suppose you have a right to be worried, but your claim that the Government will “somehow” absorb IRA accounts even though they are owned personally and reside in thousands of institutions ( banks — stock market investment companies — Etc.) and in fact are usually invested as ownership in specific stocks and bond instruments, is suspicious. Your post needs to be more specific, otherwise, it looks like a bad dream — which admittedly it is.
I hope you are wrong, but I don’t put it past them.
Politicians in DC have been salivating over IRAs and 401K's for many years and once in awhile they mention it in public.
They have yet to steal the accounts because of the backlash but the crisis they created with Social Security is now ready to explode and will present the opportunity for them to take the money.
They will instantly take all the cash, spend most of it on non-Social Security spending, and place more IOUs in the accounts just like they did with Social Security.
Back in the early 80s I read about some politicians wanting IRA/401K money so I invested my money myself. Haven't done bad at all and the Government will have to seize the stock market to steal from me.