IRA no Beneficiary
An Estate Planning Attorney approached me about an 81-year-old who had a small IRA of $24,000.
There is no named beneficiary because it was not updated when first spouse passed. He was married to another person when he died but SHE was NOT named as a beneficiary.
He has a trust and she is not named in the trust either.
Question is who is the beneficiary of the IRA?
Thank you
Permalink Submitted by Alan - IRA critic on Tue, 2022-10-11 23:13
The beneficiary clause in the IRA agreement will indicate the default beneficiary. It could be the current spouse but much more likely it is the IRA owner’s estate, and if so his will may indicate a beneficiary. If no will, then state intestate provisions or state law regarding rights of current spouse to file a claim against the estate.