IRAs and beneficiaries

[Guest Lex]

A person wants to make the beneficiary of his IRA a trust, not his spouse. Does he need spousal consent to do so?

[mbozek]

no- an IRA is not subject to ERISA.

[jevd]

What State is your client in?

If a community property state, he may need consent on a state level.

[Appleby]

Community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Puerto Rico, Texas, Washington, and Wisconsin .

Spousal signature is required if your client resides in any one of these states. In some states, the spouse's consent must be notarizes