Trust as Beneficiary
A client has an account registered as follows (names have been changed to protect the innocent):
IRA fbo Trust of John Doe
b/o John Doe Deceased
Jane Doe TTEE
I’m assuming the Trust was named on the beneficiary form of the John Doe IRA. This is the registration on a brokerage account. Can this be transferred to an IRA for Jane Doe (spouse)? Does it depend on the Trust?
Permalink Submitted by Bruce Steiner on Thu, 2010-06-17 20:49
It depends on the terms of the trust.
See my article on spousal rollovers when the spouse is not the named beneficiary, in the October 1997 issue of Estate Planning: http://www.kkwc.com/docs/AR20050125164755.pdf.
Also see my article on trusts as beneficiaries of retirement benefits, in the March 2004 issue of the Estates, Gifts & Trusts Journal: http://www.kkwc.com/docs/AR20041209132954.pdf.