Spouse Inherits a non spousal Inherited IRA?
Heres the 2 part question. DAD who passed leaves IRA for daughter. We dont know if daughter titles the non spousal inherited IRA properly. But if she did and in this case she passed, can the husband inherit the non spousal inherited IRA from deceased wife and if so how does he title the new inherited IRA?
Any help would certainly be appredciated….Michael
Permalink Submitted by Alan Spross on Wed, 2008-04-16 21:52
If daughter names her husband as her successor beneficiary on the non spouse inherited IRA, he cannot make the IRA his own upon her passing, but can continue to take RMDs based on the non recalculated schedule his wife was using, and add his name as successor beneficiary. He also should name his own successor beneficiary.
He would title as follows:
John Smith, as beneficiary of Susan Smith, beneficiary of Donald Jones, deceased xx/xx/xxxx.
There is not a rigid format requirement, so it may be necessary to adjust the above somewhat to comply with the IRA custodian’s support system requirements. The original account owner must continue to be identified, however.