Who inherits my Individual retirement account (IRA) if I do not name a beneficiary?
You have to look to the contract with the IRA custodian to see what their default language is regarding who would inherit your IRA if you do not name a beneficiary. Some companies automatically default to the spouse. If there is no spouse, to the surviving children, or sometimes it defaults to the estate. Each company has a different contractual provision regarding this issue.
| Kathleen Flammia | Elder Law – Trusts – Wills – Estate Planning | Compassionate Counsel, Expert Advice | Orlando Elder Law Services | | (407) 478-8700 | 2707 W. Fairbanks Ave., Suite 110, Winter Park, Florida 32789…(read more)
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