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exhusbands ira beneficiary

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S

s. w. woods

Guest
I am named as beneficiary on my exhusband's IRA account. Although he had almost nine years to change this, he did not. He was a very thorough, detail oriented man and this could not have been a oversight in my opinion. His daughters have asked me to relinquish the account to them.Ours was a second marriage for both in Nov. 77, final divorce in Sept. '92, death in April, 2000.

Does a custodial account such as a IRA (Dean Witter) pass to person named as beneficiary?
 


A

advisor10

Guest
FEB. 12, 2001

DEAR S.W. WOODS:

Yess, the person named as beneficiary is the recipient, unless your ex-husband had sent in a form later on that changed the name of the beneficiary.

You forgot to mention what state you live in, or how much the IRA is worth, and whether or not the daughters received any of his other assets through a will.

If the daughters are "well off" or received some other assets of his, then if I were you I would roll this money over into an IRA account for yourself, to use for your own retirement needs.

Don't be made to feel "guilty" about something that is rightfully yours, unless there are special circumstances where the daughters might need financial assistance.

You really do need to speak with someone at your local DEAN WITTER office to get the specific answer to your question. If there is no local office, go to the Dean Witter website to get the number of an office in your area.

SINCERELY,

[email protected]
 

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