Legal Question in Wills and Trusts in New York
IRA beneficiary
wife dies leaving a will, but has a parent as beneficiary on an IRA. Does the surviving spouse and/or minor son have right to the benefits?
Asked on 11/27/07, 11:36 am
1 Answer from Attorneys
Anthony Park
Anthony S. Park, PLLC
Re: IRA beneficiary
A surviving spouse is always entitled to the greater of $50,000 or 1/3 of the deceased spouses' estate. If the IRA represents the bulk of the estate than the spouse probably has a right of election.
Answered on 12/02/07, 11:41 am
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