Tags IRA Plans

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Subjects>Sports>Athletes

Can you contest a beneficiary of an IRA account?

Anonymous

∙ 10y ago

Updated: 9/27/2023

The legal system generally will allow you to contest anything you like. However, you chances of changing a designated beneficiary on someone else's IRA are slim. If you decide to contest a beneficiary, recommend you contact an attorney for advice.

Wiki User

∙ 10y ago

Still curious? Ask our experts.

Chat with our AI personalities

Beau

You're doing better than you think!

Chat with Beau

Professor

I will give you the most educated answer.

Chat with Professor

Rene

Change my mind. I dare you.

Chat with Rene

Add your answer:

Earn +20 pts

Q: Can you contest a beneficiary of an IRA account?

Write your answer...

Submit

Still have questions?

imp

Trending Questions

Does Andre Agassi have a tennis school in Las Vegas? How come the judges have to wear wigs and black robes? Where does Damien rice live? What is the noun form for strong? What position does Luis Garrido play? What is john wall's middle name? How much money does Nike make daily? What is the fan mail address for Abby Wambach? What does giggly mean? Why does James harden wear 13? What position does Bernard Pollard play? What did Sam McGee despite the most? When does Johnathan Rand do most of his writing? Can a dumb athlete stereotype be an example for a flat character? What position does Jason Weaver play? What do letters PA after a person name stand for? What position does Tyler Bozak play? Name the only three players who have had eight red cards in the Premiership? What obstacle did Kyrie Irving face? Is Kevin Durant from Dominican Republic?

Related Questions

Can Inherited Roth IRA be merged with existing Roth IRA?

No, the inherited funds (beneficiary IRA) have to remain in inherited (beneficiary) form. So the account/funds can only be distributed out of the beneficary IRA as a distribution or transfer to another alike roth beneficiary account at another firm. However, the deceased account can be transferred into the surviving spouse Roth IRA (or transfer to a beneficiary IRA account). A non-spouse doesn't have this option- they can only transfer to their beneficiary IRA account that they opened.

What are the key differences between a beneficiary IRA and an inherited IRA?

The key difference between a beneficiary IRA and an inherited IRA is that a beneficiary IRA is set up by the original account owner to designate a specific person to inherit the funds, while an inherited IRA is created when someone inherits an IRA after the original account owner passes away.

Do you need spousal consent to name another beneficiary on your IRA?

Yes, the beneficiary of an inherited IRA (AKA beneficiary IRA) can name a beneficiary to that account. In the past, this was not really allowed so some form may still practice as such.

If someone designates a beneficiary does the money have to go to the estate or does it go directly to the beneficiary?

In relation to an IRA account or some similar trust account, the money goes DIRECTLY to the beneficiary and is not a part of the estate at all

Can a wife be included on an IRA account of her husbands?

The wife can be added as a beneficiary. There can only be one name/social per IRA registration, thus Individual Retirement Account.

Do you have to pay taxes when you are left money as a beneficiary from an IRA account?

taxes are paid upon withdrawal at a later rate

What is the difference between a stretch IRA and an inherited IRA?

A stretch IRA is a strategy that allows beneficiaries to "stretch" the distributions from an inherited IRA over their life expectancy to minimize taxes, while an inherited IRA refers to an IRA that is inherited by a beneficiary upon the death of the original account holder. Inherited IRAs must be taken as distributions and cannot be contributed to, unlike traditional IRAs.

In the state of Missouri does the spouse who is not the beneficiary on an IRA have to sign acknowledging that they are not the beneficiary?

In most cases, the spouse of the owner of an IRA is the default beneficiary. Therefore, there would be a legal document that would need to be signed acknowledging that he or she is not a beneficiary.

Can you merge a beneficiary IRA with regular IRA?

The beneficiary form on an IRA is the first and most important part of receiving an inherited IRA," said Matthew Curfman, a senior vice president at Richmond Brothers Financial Management Specialists. "If you fail to name a beneficiary on your IRA it is highly likely that your beneficiaries will not be able to 'stretch' the inherited IRA over their life.

Can you transfer an inherited IRA to another beneficiary?

Yes, an inherited IRA can be transferred to another beneficiary through a process called a "trustee-to-trustee transfer" or a "direct transfer." This allows the new beneficiary to continue the tax-deferred status of the IRA.

Is your beneficiary IRA protected from creditors?

yes

Should the beneficiaries of an IRA be the trust or the heirs?

Should the beneficiary of an IRA be trust or the heirs

Still have questions?

imp

Resources

Top Categories

Product

Company

Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.