IRA Contingent Beneficiary
I am naming a minor child as contingent beneficiary for an IRA. No trust is set up. In the past, I named the child and then listed the custodian as well. So it would read “Minor Child; Adult’s Name as Custodian under the Georgia UTMA.” Is this still an acceptable way to name a minor beneficiary of an IRA?
Permalink Submitted by Denise Appleby on Mon, 2012-07-02 17:12
[quote=”[email protected]“]I am naming a minor child as contingent beneficiary for an IRA. No trust is set up. In the past, I named the child and then listed the custodian as well. So it would read “Minor Child; Adult’s Name as Custodian under the Georgia UTMA.” Is this still an acceptable way to name a minor beneficiary of an IRA?[/quote]
Yes. However, you should check with the custodian to determine if they have any other requirements, or require a variation of the language used. Some are particular…