inherited IRA

Submitted by Steve Hoover on Fri, 2024-03-01 17:59

Client had a second wife. He died two weeks ago. His children are listed as primary beneficiaries of his IRAs. Step mother is thinking she can get those funds. I believe the rules are whoever is listed a beneficiary get the accounts. Am I correct?



Submitted by Alan - IRA critic on Fri, 2024-03-01 18:15

Yes, unless a community property state for the portion of the IRA funded after the second marriage.

Submitted by Steve Hoover on Fri, 2024-03-01 18:17

This is in the state of Kansas.  

Submitted by Alan - IRA critic on Fri, 2024-03-01 18:27

Then the children should inherit the IRA as the second wife will have little recourse to contest the beneficiary designation.

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