[WSBAPT] Non-probate asset dispute

[Diane J. Kiepe]

Believe it or not, Traditional IRAs are not governed by ERISA and spousal waivers are not required unless the company has a contractual requirement.  Technically, a person can give their interest in an IRS without a weaver.  The issue here is was a wavier required?  If not does named beneficiary intend to claim ½ (deceased CP share).

If everyone is on the same page, do a TEDRA which has the same effect as a Court Order, more simple and will give the IRS custodian something for their files.

Finally, a disclaimer can be considered if spouse is name as contingent by direction or by contract.

You have a potential issue if named party claims any rights.


Diane J. Kiepe

Diane J. Kiepe, Attorney at Law
Douglas * Eden
717 W. Sprague Ave., Suite 1500
Spokane, WA  99201
Phone:  (509) 455-5300
Fax:        (509) 455-5348
djkiepe at depdslaw.com



From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of julie at juliefowlerlaw.com
Sent: Thursday, December 13, 2018 11:21 AM
To: wsbapt at lists.wsbarppt.com
Subject: Re: [WSBAPT] Non-probate asset dispute

Client's deceased spouse had an IRA acquired during marriage. Spouse changed the beneficiary without notifying the beneficiary spouse, and no community property interest waiver was signed. IRA Company wants a court order giving approval to pay to the surviving spouse in lieu of the named beneficiary.

Wouldn't this simply be a waiver by the named beneficiary rather than a court order? The account is community property and all other assets payable to surviving spouse by will.

Julie K. Fowler

Law Office of Julie K. Fowler, P.S.
14205 SE 36th Street, Ste 100
Bellevue, WA 98006
(425) 990-9975 (o)  ~  425-451-2687 (f)
julie at juliefowlerlaw.com<mailto:julie at juliefowlerlaw.com>
www.juliefowlerlaw.com<http://www.juliefowlerlaw.com/>

~ OFFICE HOURS ~  9:30 am - 3:30 pm

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