Get IRA Change Of Beneficiary And Indemnification

Most married couples make their spouses the beneficiaries of these types of accounts. So the answer is no, unless the beneficiary is changed, that is who will receive the money upon the account owner's death, regardless of a divorce.

This applies to 401(k) plans. However, IRAs are controlled by state law and do not automatically grant beneficiary rights to the spouse. The account owner can list whomever he/she wishes as beneficiary and change it whenever he or she wants to.

Be aware that beneficiaries named on your IRA supersede those named in your will. You do not need your beneficiaries' consent to remove or change them.

If you reside in a “community property state” (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), you need your spouse's consent to designate any primary beneficiary other than your spouse. This need arises from state property law.

For example, if you live in a community or marital property state, spousal consent is generally required to name someone other than the spouse as the beneficiary of an IRA. Those states are Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

You can't change the beneficiaries of the IRA after the death of the owner. If the named beneficiary disclaims the IRA in full, he/she cannot get back through the disclaimer or it would violate the disclaimer code section.

If you do not designate your spouse as Primary Beneficiary for at least half of your IRA Account, your spouse must consent in writing to the beneficiary designation. See your lawyer or other tax professional for additional information and advice.

Individuals may seek to contest a beneficiary designation on an IRA, life insurance policy, or other account for any number of reasons. However, while it is possible to contest a beneficiary designation, it's crucial to note that this process isn't always cut-and-dry.