Death of beneficiary shortly after TIRA owner dies
TIRA owner dies naming surviving spouse as primary, sole beneficiary with no requirement of survivorship for any period of time.
Surviving spouse/beneficiary dies 2 weeks later before requesting distribution/rollover of 1st decedent’s TIRA.
We would appreciate confirmation that the personal representative of the surviving spouse (2nd decedent) is entitled to the TIRA and not the contingent beneficiaries under the TIRA.
Permalink Submitted by Alan - IRA critic on Fri, 2021-07-02 23:17
The IRA agreement should first be checked to determine if there are any default beneficiaries other than the estate of the surviving spouse. Depending on additional specifics and dates, a disclaimer of benefits on behalf of the surviving spouse might be worthwhile if the estate wishes that the IRA be inherited by the contingent beneficiaries directly. There might also be a year of death RMD to be completed and beneficiary RMD implications.