correct titling for non-spousal beneficiary inherited IRA
My father passed last year and named my 2 year old daughter as a beneficiary of his IRA, which I would like to stretch. What is the proper way to title the account if I am her guardian/custodian?
Permalink Submitted by Alan Spross on Wed, 2011-11-23 23:54
You will probably have to leave that decision to the IRA custodian after explaining the full situation. The IRS requires the decedent and the beneficiary listed in no particular order on the title and identified, but the guardianship rules are probably dictated by state law. Therefore, the custodian must meet the state requirements while still handling the total registration within their processing platform. It basically boils down to how they document your function as guardian.