I have an IRA that I set up several years ago. My late wife was my beneficiary. Now that she's gone, what will happen to my IRA if I don't designate another beneficiary?
Ownership of your account after you die is normally a matter of state law. The forms you signed several years ago may have language in them that will cover what happens if you did with no living beneficiary. You should ask the custodian -- your bank or other financial institution -- to explain the provision after they give you a copy of the paperwork. If there is no beneficiary desigation, the funds will go to your estate.
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Ownership of your account after you die is normally a matter of state law. The forms you signed several years ago may have language in them that will cover what happens if you did with no living beneficiary. You should ask the custodian -- your bank or other financial institution -- to explain the provision after they give you a copy of the paperwork. If there is no beneficiary desigation, the funds will go to your estate.
