Reply to Beneficiary for SEP/IRA

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, if you get married, your spouse becomes the beneficiary of the retirement plans per federal law. Not sure how life insurance works, though.

Your plan seems fine; just remember to update it as your mom ages.

I think DC still has common-law marriage, too, so if you live there this may work differently if you live together but aren't married. [/quote]

SEP IRA does not require spouse to inherit. I just inherited one from my late mother, who was married at the time of her death. Her spouse did not even have to sign an acknowledgement. [/quote]

He likely did have to sign a waiver when she originally named you as the beneficiary. You can always name a beneficiary other than your spouse, but by default they get retirement plans if you have not done something proactive to change that. Most plans require the spouse to sign off if you want to designate someone other than your spouse. (I imagine this is to discourage fraud/elder abuse situations, but not sure.)[/quote]

Nope. I was with as she changed it. She was diagnosed with cancer. SEP IRA’s have different rules from other vehicles.[/quote]

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