Name Change On IRA>

[Guest Bobbysax]

Hello Everyone, new user here.

My Question is as follows: Can I transfer my existing IRA into my wife's name? This IRA was formed with pension funds after retirement. If so will ther be any tax implications?

Thank You Bob

[JanetM]

Nope. You can't just give her the funds and have it be tax free event. You can only do it if you have a QDRO.

[Guest Bobbysax]

Nope. You can't just give her the funds and have it be tax free event. You can only do it if you have a QDRO.

[John G]

Nope. The "I" stands for individual, its yours.

However, you can make your wife the beneficiary upon your death. Also, you can make other family members secondary beneficiaries. This way, upon your demise, you wife may take all, some or none of the assets and any remaining assets will be distributed to those next in line per your declared percent allocations.

[Appleby]

Nope. You can't just give her the funds and have it be tax free event. You can only do it if you have a QDRO.

Maybe we want to use 'divorce decree' instead of QDRO, as QDRO usually applies to qualified plans. But unless you are getting a divorce, John Gs option woukd be the one to choose

[JanetM]

Opps, you're right. Typed faster then the brain worked. Property settlement with decree would be needed - not qdro.