Does IRA automatically go to spouse?

No, an IRA doesn't automatically go to your spouse unless you're in a community property state or have no beneficiary named, in which case the custodian's default rules often favor the spouse; otherwise, you must explicitly name your spouse as beneficiary on the IRA form, as designations on your will are superseded by the IRA's form, and naming someone else requires your spouse's consent.

Does an IRA automatically go to a spouse?

In a traditional IRA or Roth IRA account, the surviving spouse or registered domestic partner is not automatically entitled to inherit the money – especially if the account owner designated someone else as beneficiary.

Is my wife entitled to my IRA?

If the account holder designates another person as the beneficiary, that person may claim the money. However, if the couple resides in a community property state, the surviving spouse may claim the IRA. According to the community property rules, couples own assets equally.

Does a spouse automatically become a beneficiary?

No, a spouse isn't automatically the beneficiary on everything; it depends on the asset and state laws, with life insurance, IRAs, and retirement plans usually requiring specific beneficiary designations, while community property states grant spouses rights to assets like homes and bank accounts even without a will, but rules vary. For most financial accounts (life insurance, IRAs, 401(k)s), you must actively name your spouse as beneficiary, or someone else will receive the funds unless spousal consent is obtained for other designations. 

What is the spousal IRA rule?

A spousal IRA allows a working spouse to contribute to an IRA for a non-working or lower-earning spouse, provided the couple files jointly, has sufficient combined earned income (at least the total contribution), and adheres to standard IRA contribution limits ($7,500 in 2026, or $8,600 if 50+), with the account owned by the non-earning spouse. It effectively lets a couple save twice the annual limit in tax-advantaged accounts, even if one spouse has no income. 

Inherited IRAs - What should I do with this?

How do IRAs work for married couples?

Opening and contributing to a spousal IRA essentially allows you and your spouse to double your IRA contributions each year. Rather than being able to save $7,500, which is the 2026 contribution limit (up from $7,000 in 2025), you can save $15,000.

What happens to my husband's IRA when he dies?

When a spouse dies, the surviving spouse (the primary beneficiary) has flexible options for their IRA, primarily choosing to rollover into their own IRA, treat it as an inherited IRA (beneficiary IRA) for tax-deferred growth, or take a lump sum, with rules depending on whether the original owner started Required Minimum Distributions (RMDs). Rolling it over lets them treat it as their own, delaying RMDs, while an inherited IRA offers penalty avoidance for early withdrawals but requires distributions by the 10th year (or life expectancy if they qualify as an Eligible Designated Beneficiary).
 

Do your assets automatically go to your spouse?

Only about a third of all states have laws specifying that assets owned by the deceased are automatically inherited by the surviving spouse. In the remaining states, the surviving spouse may inherit between one-third and one-half of the assets, with the remainder divided among surviving children, if applicable.

Who gets IRA if no beneficiary?

If you die with your IRA account and no beneficiary designated, what happens is the plan documents will determine who the default beneficiary is. So, typically, it's the decedent's estate or the surviving spouse.

Do I automatically get my husband's pension when he dies?

You may inherit part of or all of your partner's extra State Pension or lump sum if: they died while they were deferring their State Pension (before claiming) or they had started claiming it after deferring. they reached State Pension age before 6 April 2016. you were married or in the civil partnership when they died.

Why is moving out the biggest mistake in a divorce?

Moving out during a divorce can be a significant mistake because it often harms your legal position on child custody, finances, and property division, as courts favor keeping the "status quo" and the parent living in the home seems more stable and involved. It can also lead to losing access to important documents, creating immediate financial strain with duplicate expenses, and potentially being seen as "abandoning" the family, complicating the entire case, though safety concerns are a valid exception. 

Can my wife have an IRA if she doesn't work?

A nonworking spouse can open and contribute to an IRA

However, if the working spouse is covered by an employer plan, the amount of the deductible contribution may be limited. The annual contribution limit for IRAs, including Roth and traditional IRAs, is $7,000 for 2025 and $7,500 for 2026.

What money can't be touched in a divorce?

Money that can't be touched in a divorce generally falls under separate property: assets owned before marriage, gifts or inheritances (to one spouse), and some post-separation earnings, but only if kept completely separate (not mixed with marital funds) and documented, often protected by prenuptial agreements. Commingling (mixing) separate funds with marital assets, or failing to document gifts/inheritances, can turn untouchable money into marital property subject to division. 

Can my wife take half of my IRA in a divorce?

An IRA can be split during a divorce, but several conditions must be satisfied to ensure optimal tax treatment. Federal tax law allows tax-free transfers if both of the following two conditions are true: The IRA transfer is provided for in the divorce decree or property settlement agreement.

How to avoid paying taxes on inherited IRA?

If you inherit the IRA from your spouse, wait until the RMDs begin, or take distributions based on your own life expectancy. If you're a non-spouse, consider depleting the account over 10 years. This way, you can change the amount you withdraw based on your income to balance out any additional tax consequences.

Am I entitled to my husband's IRA?

To qualify for a spousal IRA, a couple simply must be married and filing taxes jointly. Both spouses may contribute according to IRS limits, but a spousal IRA has only one legal account holder. If a spousal IRA is in your name, you own the money inside – no matter where the contributions originate.

Does your IRA beneficiary have to be your spouse?

No, a spouse is not automatically the beneficiary of an IRA like they are with a 401(k), and you generally don't have to name them, but state laws, especially in community property states (like CA, TX, WA), often require your spouse's written consent if you name someone else as primary beneficiary. Failing to get consent in community property states or if your spouse isn't named could lead to legal challenges, so it's crucial to update beneficiary forms and consider spousal waivers if you want to leave assets to someone other than your spouse, notes Investopedia, ElderLawAnswers, and Fort Pitt Capital Group. 

Do you inherit your parents' IRA?

An inherited IRA, also known as a beneficiary IRA, is an IRA account you inherit from someone who has died. Anyone can inherit an IRA, including spouses, family members, and non-related individuals, as well as estates and trusts.

Who is the default beneficiary of an IRA?

Default beneficiary provision

If an account owner's child predeceases the owner, then that child's share is distributed to their own children (the owner's grandchildren) equally or, if none, the surviving children equally. If none of the above survives the account owner, the beneficiary is the owner's estate.

Does the house automatically go to a wife if the husband dies?

If the partners were beneficial joint tenants at the time of the death, when the first partner dies, the surviving partner will automatically inherit the other partner's share of the property. However, if the partners are tenants in common, the surviving partner does not automatically inherit the other person's share.

How can I protect my assets from my wife?

How do I stop my spouse from getting my assets?

1. Sign a prenup or postnup.
2. Avoid putting all of your income in joint accounts.
3. Don't commingle separate property (personal inheritances, gifts, or accounts) with marital funds.
4. Consult an experienced attorney.

Which of the following assets do not go through probate?

This includes life insurance policies, bank accounts, and investment or retirement accounts that require you to name a beneficiary. The proceeds are paid out directly to your named beneficiary when you pass away without having to pass through probate.

What is the smartest thing to do with an inherited IRA?

What to do with an inherited IRA

• "Disclaim" the inherited retirement account.
• Take a lump-sum distribution.
• Transfer the funds into your own IRA.
• Open a stretch IRA.
• Distribute the assets within 10 years.
• Distribute assets received through a will or estate.

What are the new rules for spousal IRAs?

Under current law, most couples can contribute up to $14,000 ($7,000 each) to their IRAs in 2025, as long as their combined compensation is at least $14,000 for the year in which contributions are made. This means that the spouse with lower or no compensation can contribute $7,000 to a retirement plan for 2025.

What is the disadvantage of an inherited IRA?

The downside is that there's a 10% penalty on withdrawals before age 59½, and there might be accelerated RMDs if the surviving spouse was older than the deceased spouse.