IRA Per Stirpes Designation
A client’s child is married and the client designates “Per Stirpes” on their beneficiary form even though her child has no children. If the child predeceases the client and then the client dies, does the child’s spouse inherit the funds?
Permalink Submitted by Alan - IRA critic on Wed, 2024-11-13 16:33
Not under the per stirpes designation, which only applies to lineal descendants. If there are no per stirpes descendants, the IRA would probably go the estate, the exception being the few IRA agreements that specify the spouse as a default beneficiary if there are no other living per stirpes beneficiaries.