Custodial IRA for minor child – beneficiaries
With a custodial IRA fbo a minor child, If the minor child were to pass away, does the IRA pass to the person named as the custodian, or should beneficiaries be named?
With a custodial IRA fbo a minor child, If the minor child were to pass away, does the IRA pass to the person named as the custodian, or should beneficiaries be named?
Permalink Submitted by Alan - IRA critic on Thu, 2021-09-02 13:24
Beneficiaries should be named. The beneficiary can be different from the custodian.
Permalink Submitted by Bruce Steiner on Thu, 2021-09-02 23:16
It would be an asset of the child’s estate.