1. Thanks for the post! I’m now in this exact “second marriage situation” and having hard times fixing all those beneficiary designations issues. That was really helpful, thanks.

  2. I read your article today concerning the estate as default beneficiary. This has actually happened to my client. Her Dad failed to name a beneficiary on one of his IRA’s at a local bank. The bank has already cut a check for the full amount to the estate. They have agreed however, to set up a beneficiary IRA for my client if she returns the check, which she will do.
    My question is two-fold; How should the registration be titled for this type of beneficiary IRA since the distributions will be at the decedents life expectancy. (She has a bene IRA already as she was the beneficiary of the rest of his IRA’s.) Also, if the bank does set-up the beneficiary IRA for her, can it then be transferred to another Custodian.
    Thank you for your very informative article.

    • Tom,

      The inherited IRA should be titled “John Doe, deceased, for the benefit to Jimmy Smith”

      Yes, you can change custodians.


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