IRA Beneficiary – “Per Custodial Agreement”
If an IRA owner passes away with no named beneficiary, and the beneficiary information listed on the account is “per custodial agreement” – do the assets automatically pass to the surviving spouse (assuming there is one)? Or must those assets go through probate?
Permalink Submitted by Alan - IRA critic on Thu, 2023-10-12 18:22
If the default beneficiary in the IRA agreement is an individual, the IRA is inherited directly by that person and not subject to probate. Otherwise, the IRA will go to the estate and the will beneficiaries will inherit, or if no will the IRA will be inherited per state intestate provisions.