Can an ex-spouse be a beneficiary?

Divorce does not usually change a beneficiary designation unless the divorce decree makes a stipulation to change it. In a community property state, the designation naming the ex-spouse as beneficiary may not be valid if the current spouse did give consent.

Is a surviving spouse a beneficiary?

When it makes sense to name a spouse, this is also the most tax efficient manner to pass on assets from a Traditional IRA where distributions are required to be made at some point, and are taxed as ordinary income. By taking the IRA as his or her own, the surviving spouse can name his or her own beneficiaries.

Can a spouse be a beneficiary of a death benefit?

However, when they are not, there are circumstances under which they are still entitled to some or all of the death benefit. If your spouse or ex-spouse died, had life insurance, and did not name you as beneficiary, you may still have a right to some or all of the death benefit depending upon the circumstances.

Can a former spouse be a beneficiary of a retirement account?

In other words, the former spouse was treated as if he or she had predeceased the decedent. Based upon this law, Mr. Egelhoff’s children claimed that state law automatically revoked Donna Egelhoff as the beneficiary of the retirement account when their divorce was final.

What happens to an ex husband’s pension when he dies?

If you are designated as the beneficiary of the pension, or if your settlement agreement, court order or QDRO specifically identifies your right to “survivor benefits,” then you should be able to continue receiving your share of the pension benefits after your ex-husband’s death, he said.

How to exclude a spouse as life insurance beneficiary?

How to Exclude a Spouse as Life Insurance Beneficiary In community property states, spouses can execute a “property status agreement” that gives them the legal, binding ability to exclude their life insurance from marital property and effectively name someone other than their spouse as beneficiary.

Can a deceased spouse be a beneficiary of an IRA?

Treat himself or herself as the beneficiary rather than treating the IRA as his or her own. If a surviving spouse receives a distribution from his or her deceased spouse’s IRA, it can be rolled over into an IRA of the surviving spouse within the 60-day time limit, as long as the distribution is not…

Can a beneficiary of an annuity be a surviving spouse?

If an annuity contract has a death-benefit provision, the owner can designate a beneficiary to inherit the remaining annuity payments after death. Earnings on inherited annuities are taxable. How they’re taxed depends on the annuity’s payout structure and whether the beneficiary is the surviving spouse or someone other than the spouse.

What to do if your former spouse dies?

Call OPM to report the death of your former spouse. If we are paying you a reduced annuity to provide a survivor annuity for your former spouse, we may be able to increase your annuity after we have proof of the death.

Can a former spouse inherit assets left by the ex?

Barring a court order, a former spouse is likely to be entitled to receive the assets in the IRA. That is particularly true when the ex-spouse is a named beneficiary on record at the time of the IRA owner’s death. 2