Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

My sister has an IRA and has just named her husband as 50%

Customer Question
and myself her brother as...
My sister has an IRA and has just named her husband as 50% and myself her brother as 50% primary bebficary. She is moving the money a trustee to trustee. Does my sisters spouse have to sing off on such a designation?
JA: The Expert will know how to help. Is there anything else important you think the Expert should know?
Customer: ??? did you get my question?
Submitted: 2 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 4 minutes by:
9/12/2017
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,869
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Ask Your Own Tax Question
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 months ago

The answer is usually no. If you have an IRA, the rules are different. The spousal rules under ERISA don't control IRAs and the Tax Code doesn't require you to name your spouse as the beneficiary of your IRA. So, in general, you can name anyone as the IRA beneficiary without having to get your spouse's permission.

You are most welcome.

A positive 5 star rating is appreciated so I am credited for assisting.

Ask Your Own Tax Question
Ask Robin D. Your Own Question
Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,869
15,869 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

Robin D. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,310 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

15,869 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
I have an IRA account and the beneficiary on the account is
I have an IRA account and the beneficiary on the account is a Trust that I set up. So if I die, the IRA money goes into the Trust. I would like to know how that IRA money is taxed if I die. My total e… read more
Robin D.
Robin D.
Senior Tax Advisor 4
15,869 satisfied customers
My sister made me the sole beneficiary of a $257,000 IRA.
My sister made me the sole beneficiary of a $257,000 IRA. Because of a paperwork glitch the IRA has to be included as part of my sister's estate. We have a estate EIN. How much will the taxes be on $2… read more
abci168
abci168
Principal
27 satisfied customers
Beneficiary IRA tax question for a CPA. I have a deceased
Beneficiary IRA tax question for a CPA. Hi! I have a deceased client that named her Trust as the IRA beneficiary. The custodian won't send the 4 charities (all charities, no natural persons) directly … read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
What are tax rules for an inherited Roth IRA, GA, the
what are tax rules for an inherited Roth IRA JA: Since estate law varies from place to place, can you tell me what state this is in? Customer: GA JA: What documents or supporting evidence do you have?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
If I get a 1099-Q and I am not the designated beneficiary,
If I get a 1099-Q and I am not the designated beneficiary, but I pay qualified education expenses for my dependent, is this 1099-Q taxable? Please reference an IRS code section or part of a publicatio… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,458 satisfied customers
I received a Beneficiary Claim Form from American Equity
I received a Beneficiary Claim Form from American Equity Investment Life Insurance Co. concerning my deceased Mother's policy (IRA). My question is this: should I have federal/state withholding and at… read more
abci168
abci168
Principal
27 satisfied customers
I am a beneficiary on my deceased wife's IRA's accounts. She
I am a beneficiary on my deceased wife's IRA's accounts. She passed in 2010 and they are still in her name. I turned 70 this year but she would only be 66 if living today. Does the 5 year rule apply f… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Related to my previous question are the US beneficiaries of
Good afternoon, related to my previous question are the US beneficiaries of an offshore/ foreign trust obliged to report to the IRS that they are beneficiaries even when the trust had not distributed … read more
abci168
abci168
Principal
27 satisfied customers
What is the ruling to use for a LLC not want to file a late
what is the ruling to use for a LLC not want to file a late S election for 2016. the LLC does not file an extension for the S corp.… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Once the original single "income beneficiary" of a QSST
Once the original single "income beneficiary" of a QSST Trust dies, and the secondary principal beneficiaries take over, how do you report that on the QSST? … read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
If estate is beneficiary of IRA, where deceased was
If estate is beneficiary of IRA, where deceased was receiving RMD, can it be paid out over remaining life expectancy of deceased? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Juliana, does the same 10 year rule apply to EDD state tax
Hi Juliana, does the same 10 year rule apply to EDD state tax lien. or is all state tax lien the same.… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,458 satisfied customers
Ex-wife inherited retirement account from TIAA, would rules
Ex-wife inherited retirement account from TIAA, would rules under ERISA prevent creditors from reaching it? Can IRS reach it to pay decedent's back taxes owe and the taxes owe in the last income tax r… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Rules on Rollovers (Return of a non-taxed IRA Distribution).
Rules on Rollovers (Return of a non-taxed IRA Distribution). Over 70-1/2 years old) … read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
If a beneficiary of an irrevocable trust (the grantor was
If a beneficiary of an irrevocable trust (the grantor was his father, now deceased) has medical expenses paid out of the trust, are they able to deduct those expenses from their personal return?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Robin, I am reading that the beneficiaries of a revocable
Hi Robin,I am reading that the beneficiaries of a revocable trust don't pay taxes on the distributions. Please see below the text I read. So if my mom (a non-resident, foreign person living outside th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
15,869 satisfied customers
I am the trustee and beneficiary of an ILIT. Irrevocable
I am the trustee and beneficiary of an ILIT. Irrevocable Life Insurance Trust. The proceeds will be deposited into the trust from the insurance company. My question is what is the correct way to withd… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,217 satisfied customers
My wife's mother was the beneficiary of an irrevocable
My wife's mother was the beneficiary of an irrevocable trust. That trust was set up by my wife's mother's mother in her will. Confusing huh? My wife's grandmother established a trust in her will for m… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x