Spouse beneficiary has Alzheimers
Client (husband age 70) has his wife (age 68) named as his primary beneficiary on IRA’s of about $480k but she is unable to conduct business or sign her name. Doubtful his children, if named beneficiary, would save money for spouses care. Any suggestions?
Permalink Submitted by Alan - IRA critic on Mon, 2016-11-07 17:32
If the children cannot be trusted, client should consider a trust for his wife with a professional fiduciary as the trustee. While her RMDs would be larger using the single life table than if she inherited directly, given the situation and more limited life expectancy that probably would not matter.