Annuity titling at IRA owner's death - Ed Slott and Company, LLC

Submitted by Gary Hamilton on Sat, 2007-10-13 15:50

John, 75, holds a deferred annuity in his IRA. His wife (75) is his sole beneficiary. John dies and his wife does a spousal rollover and becomes owner of the IRA. What does she have to do, or how does she get the insurance company to transfer the annuity into her name, as owner, so she can commence to name her children as beneficiaries ❓

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Permalink Submitted by Al Fry on Sun, 2007-10-14 21:05

If she completed the rollover paperwork and submitted it to the carrier, it should have been automatic. However, different carriers have different rules, they may want new surrender charges with a new contract. If so, she may want to move it somewher else, unless thast is not a problem.