Truth 17. Maximizing IRA benefits for a surviving spouse
Ours is a society where a premium is put on multitasking. People talk on the phone while doing paperwork. When it comes to IRAs, proper multitasking can provide for passing an IRA from a married person to his spouse at death and continuing income tax deferral while deferring estate taxes and preserving funds to be available for children at the death of the surviving spouse. Now that is a lot of multitasking!
Generally, passing an IRA from the holder of the IRA to a surviving spouse is a relatively easy task to accomplish. The key thing is to plan in advance by naming the spouse as the primary beneficiary. If the deceased IRA owner had not named the spouse as the beneficiary ...
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