FBO IRA

Good Morning,

In a husbands IRA (deceased)for the benefit of the wife, for estate planing purposes, to which estate do these assets belong currently? and at the death of the wife?

Thank You.



When the husband died, the assets passed to his wife’s estate. Assets passing to the spouse received an unlimited marital deduction under prior estate tax law. But now the assets are in wife’s estate, so she will hope that if the estate tax comes back, the unified credit will be high enough to cover all her assets including this inherited IRA.

If she assumes ownership of the IRA, the above still applies.



Much appreciated – thank you Alan.



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