Inherited IRA and non spouse beneficiary
Hi All
I am new to the fourm and have a question?
I have a client that is going thru a divorce.
She is transferring her Inherited IRA from Schwab into LPL.
Do you happen to know if she can designate her children as primary beneficiary instead of spouse on both accounts?
LPL states that they do not track who the beneficiary no spousal consent requirement on LPL account form.
Is there a rule ?
Permalink Submitted by Alan Spross on Fri, 2011-06-03 17:48
Andy, welcome to the forum.
Unless there was a requirement to the contrary in the divorce decree, she can name anyone she wishes as beneficiary of the IRA.
In addition, I wanted to determine if this IRA account is a transfer from the former spouse (not considered inherited) OR was an inherited IRA she had all along. If she inherited it due to a death, was it from a spouse at the time OR a non spouse original owner? The distinction relates to her choices for handling the IRA, but not for who she can name as her beneficiary.