Orange County California

Trust Attorneys


When Not To Name Your Spouse as a Beneficiary to Your IRA Account Explained by Orange County Estate Planning Attorney James F. Roberts

Know When Not To Name Your Spouse As Beneficiary

In a previous video I mentioned about why you would want to name the spouse as the primary beneficiary. However, there are times when not to name your spouse as the beneficiary is not the right choice. This includes when you have recently married for a second time either from divorce or from the first spouse passing away. The problem that can arise is when a new spouse is involved if they are listed as beneficiary then the funds may go to the new spouse but then after the second spouses death the inheritance may never go back to the children of the person creating the estate plan, as they had originally intended. In these cases it is important to know when not to name your spouse as a beneficiaries and to carefully consider how to establish an estate plan.

Updating A Beneficiary Form and Estate Plan When There Is A Second Marriage And When Not to Name Your Spouse

The person who created that 401k may want to designate that the beneficiaries become their children and their children’s beneficiaries rather than to the new spouse. Making sure to take time to update a beneficiary form after a second marriage is important to ensure not to name your spouse as the beneficiary.  This helps to ensure the funds go to the people you want them to go to rather then becoming an issue after something happens. Talk with one of our attorneys to ensure your estate plan both meets the needs of a surviving spouse but does not allow control to pass to the surviving spouse from your intended beneficiaries.

We also offer a regularly scheduled seminar in our office to help people determine what the best options are for them in their estate planning needs. We hope you sign up for one of our seminars to help you find your best options. We regularly conduct free seminars designed to teach about the benefits of creating an estate plan. The seminars are held on-site at our Anaheim office inside of our “classroom”. We offer light snacks and refreshments to the attendees and the group is often small and intimate, which allows for questions to be asked comfortably and for a very relaxed environment. Please encourage your loved ones to attend the seminar so that they may learn more about the estate planning process and benefits.

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