Per stirpes
I have a client with an IRA. Two beneficiaries. One is per stirpes and one is pro rata. If something happened to the son listed as per stirpes and my client passed, would it go to that beneficiaries kids? Our client wants it to go to that beneficiaries’ spouse.
A resource is saying regardless of kids or not, it will go by the clients will.
Permalink Submitted by Alan - IRA critic on Tue, 2021-11-30 20:26
If the per stirpes beneficiary pre deceases the client, the portion that would have gone to the deceased son will pass to the lineal descendents of that son, not to that son’s spouse. If client wants that share to go to the spouse, the per stirpes should be eliminated and the son named directly with his spouse as the contingent (secondary) beneficiary. Client’s will does not come into play unless there are no beneficiaries left to receive a share.