Disclaim IRA proceeds?
Good afternoon. Fast question. IRA owner dies and names her daughter as sole beneficiary. Daughters want to disclaim the proceeds and pass them onto her child (grandson of original IRA owner). This grandson was not named as a beneficiary. Can this be done? I was under the impression that for this to work, this grandson would have to have been named as a contingent beneficiary on the form.
Permalink Submitted by Anonymous (not verified) on Thu, 2009-02-19 23:01
The daughter can’t say who gets it if she disclaims. It will go to the contingent beneficiaries, or if none than pursuant to the default rules in the IRA agreement (probably the IRA owner’s estate, though possibly the IRA owner’s spouse, or if none then possibly the IRA owner’s issue).