inherited IRA
Client had a second wife. He died two weeks ago. His children are listed as primary beneficiaries of his IRAs. Step mother is thinking she can get those funds. I believe the rules are whoever is listed a beneficiary get the accounts. Am I correct?
Permalink Submitted by Alan - IRA critic on Fri, 2024-03-01 18:15
Yes, unless a community property state for the portion of the IRA funded after the second marriage.
Permalink Submitted by Steve Hoover on Fri, 2024-03-01 18:17
This is in the state of Kansas.
Permalink Submitted by Alan - IRA critic on Fri, 2024-03-01 18:27
Then the children should inherit the IRA as the second wife will have little recourse to contest the beneficiary designation.