Is a living spouse entitled to the other spouses retirement income even if other beneficiaries are listed on the beneficiary form?Is a spouse automatically the beneficiary of a retirement account owned by the other spouse?
The beneficiary is the person/persons named on the account. Named by the owner of the account. The living spouse might protest this and bring this protest to 'estate' court. If the will/account and estate is in proper order and no 'hanky-panky' was involved, then the spouse hasn't a prayer. On the other hand, if no beneficiary was named by the owner, then the spouse is the beneficiary. And of course, other can protest this a bring it to 'estate' court. And again, if all is in order and there was no 'hanky-panky', then the spouse gets the accounts.Is a spouse automatically the beneficiary of a retirement account owned by the other spouse?
Only the people who are listed as beneficiaries can claim the money on any account - retirement, insurance. If there are no beneficiaries and no will, then the state you live in decides how to divide up the money. I don't know what happens if your beneficiaries are deceased and you have no will. Contact the place where the IRA is held and ask. I don't think you have to be the owner of this IRA in order to ask a general question.
If you are the spouse, get the owner of the IRA to update the beneficiaries or name you directly.
As I said, if there is no will, the state has rules for how the estate will be distributed. This excludes any accounts where there are beneficiaries. They get the money. It doesn't go into the estate. Update beneficiaries on all your accounts.
if no other beneficiaries are listed then yes. if there are beneficiaries listed then no, the living spouse has no legal rights to that account.
The only exception I know of is if the couple got married and the employee died within the first year before updating his beneficiary list.
No only those listed as beneficiary.
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