Comments on: IRA Beneficiary Rules to Protect Your Family

By: Jerrold Schiff

Jerrold Schiff — Thu, 20 Jan 2011 00:56:14 +0000

can you name a canadian resident as a beneficiary of an ira

relatives are all canadians
none have an american social security number and none of the earn money or pay taxes in usa.

By: Rey

Rey — Thu, 09 Dec 2010 18:23:10 +0000

Please let us know what you discovered!
I have an family friend that is a non resident alien and her husband who is a legal resident just passed away tragically. She is 50 years old and needs his 401k for her and her 3 children.

Thanks!

By: Rey

Rey — Thu, 09 Dec 2010 18:22:45 +0000

Please let us know what you discovered!
I have a family friend that is a non resident alien and her husband who is a legal resident just passed away tragically. She is 50 years old and needs his 401k for her and her 3 children.

Thanks!

By: pina

pina — Thu, 24 Jun 2010 07:08:53 +0000

My Dying Brother with Cancer was asked by my sister if he could changehis IRA beneficiary from my moms name into her name by phone call. It happened in 2006. she only had attorney let us know what she was awarded. She kept it for self instead of Estate Plan of My Dead Brother. We were all surprised. cause kids didn’t get money and we saw no documentation on this? Is this allowed to happen even when its not listed on will only tangible assets must be shared? Thank you

By: Neal@Wealth Pilgrim

Neal@Wealth Pilgrim — Fri, 11 Jun 2010 02:13:24 +0000

I believe that you may have to resort to one of your two solutions. Let me know what you dig up.

By: halfnine

halfnine — Thu, 10 Jun 2010 18:44:50 +0000

Yeah, she’s listed as my beneficiary.

I was more concerned about whether she’d be allowed to rollover the IRA and create her own (even as a non resident alien). The last thing I want is the whole thing to get distributed as a lump sum to her instead. The tax implications and higher marginal rate would defeat my purpose of having tax-deferred IRAs in the first place. And, if that was the case I’d have change my thought process which would probably mean either moving more towards ROTHs or changing the beneficiary to a child that would be a US citizen.

By: halfnine

halfnine — Thu, 10 Jun 2010 16:13:18 +0000

When was I last looking at my IRA beneficiaries….oddly enough, just this morning. I’ve been banging my head against the wall researching estate planning. Considering my wife is a non resident alien and that neither of us reside in the USA, I had to look at see how it would effect her as a beneficiary and what her options would be.

By: neal

neal — Thu, 10 Jun 2010 15:27:12 +0000

A complicated issue halfnine…Not sure of the rules on that. But make sure to check your beneficiary forms too just to make sure she is your bene.