Beneficiary Disclaim IRA account
Hi: An IRA owner passed away at over 70 1/2. The listed beneficiary for this IRA is his son, who was made the beneficiary without a spousal consent requirement many years ago. The IRA administrator failed to identify that spousal consent is required and incorrectly named the son the beneficiary. Can the beneficiary (son) disclaim the assets and not accept the IRA as he wanted it to go to his living mother? Best, CS
Permalink Submitted by Alan - IRA critic on Thu, 2023-03-16 20:19
The disclaimer deadline is 9 months from the DOD, except for beneficiaries under the age of 21. The disclaimant cannot choose the recipient of the account. Was mother listed as a contingent beneficiary? If not, how will she acquire the IRA, through the owner’s estate and will?
Permalink Submitted by Bruce Steiner on Sat, 2023-04-08 21:00
Spousal consent isn’t required for IRAs. However, the son may disclaim the IRA.