Posted: 08 Jun 2009 08:06 Post Subject:
Nope, the will wouldn’t supercede the IRA if a beneficiary is designated to receive the benefits. The will would apply to the assets hold by the deceased and the beneficiary would control the IRA account.
Now, if you let us know more about the incident we would be able to comment on it more efficiently. Have you encountered any such situation where the will acted over the IRA beneficiary status?
Posted: 08 Jun 2009 10:54 Post Subject:
I vote no as well..the beneficary stands and is not part of the will
Posted: 04 Aug 2012 10:04 Post Subject: will versus beneficary
Will a name as beneficary on ira's and money market accounts be in effect if there is a will after the beneficary's are named. Or should the names be taken off as beneficary
Posted: 05 Aug 2012 06:28 Post Subject:
The IRA beneficiary is not affected by anything mentioned in a will. The same would be true of a money market account if there was a "transfer on death" designation for the account. If those persons are not the ones the account owner desires, they may be changed in most cases.
Posted: 05 Aug 2012 08:22 Post Subject:
Max is correct.
The beneficiary of the IRA should be the person who you want to get the money. It is almost always better to name a beneficiary on the IRA than to have this money go to the estate and have the will control it.