IRA Annuity Beneficiary clarification
Have Annuities (both variable and fixed) half are in an IRA,half are after tax annuities.In the estate planning do the beneficiary designations in the qualified IRA’s and the after tax non qualified annuities superceed or trump what may be in the will.
Thank you,
Permalink Submitted by Alan Spross on Tue, 2010-03-09 18:29
Yes. But there can be complications in community property states if these accounts were funded by community assets. A surviving spouse may have claim to 50% of community property, and if that is not satisfied by other assets, the beneficiaries of these retirement accounts may have their interests reduced accordingly.