common law spouse beneficiary
if a common law spouse is named beneficiary of an IRA or 401k in a state that recognizes common law marriage (Alabama), can the beneficiary roll the funds over into their own name at the death of the owner?
if a common law spouse is named beneficiary of an IRA or 401k in a state that recognizes common law marriage (Alabama), can the beneficiary roll the funds over into their own name at the death of the owner?
Permalink Submitted by Alan - IRA critic on Tue, 2016-04-12 20:39
If the couple is recognized as legally married by the state of residence, then the beneficiary is a surviving spouse and can do the spousal rollover. However, the survivor might have to provide some form of documentation to the IRA custodian that conditions required for a valid common law marriage existed.
Permalink Submitted by Alan - IRA critic on Tue, 2016-04-12 20:39
If the couple is recognized as legally married by the state of residence, then the beneficiary is a surviving spouse and can do the spousal rollover. However, the survivor might have to provide some form of documentation to the IRA custodian that conditions required for a valid common law marriage existed.