Disclaimer
T-IRA owner died naming the estate as beneficiary
Can the estate disclaim? Allowing the contingent beneficiary (non-eligible designated beneficiary) to use the 10-year payout?
Thank you
T-IRA owner died naming the estate as beneficiary
Can the estate disclaim? Allowing the contingent beneficiary (non-eligible designated beneficiary) to use the 10-year payout?
Thank you
Permalink Submitted by Alan - IRA critic on Thu, 2024-09-19 10:57
It is very rare that a contingent beneficiary is named when the estate is primary. It may be possible for the executor to disclaim on behalf of the estate subject to state law, but the IRA custodian could require additional disclaimers from all estate beneficiaries to reduce the chance of litigation. An IRA custodian is not required to accept disclaimers. In some states, the will must also address executor disclaimers. This is certainly a situation that should be addressed with an estate attorney.
Permalink Submitted by Bruce Steiner on Thu, 2024-09-19 21:42
No. The IRA owner’s executor may not disclaim.