IRA Asset Will


DEFINITION of 'IRA Asset Will'

A document that specifies how the assets in an individual retirement account (IRA) should be distributed upon the account owner's death. An IRA asset will is used instead of a financial institution's boilerplate beneficiary designation forms to provide a greater level of detail about how retirement account assets should be distributed.


IRAs have unique features, restrictions and tax implications that require them to be handled differently from other assets in an individual's estate. The IRA asset will addresses these features to ensure that an individual's wishes will be carried out after his or her death, and that the maximum value of the IRA's assets will be preserved.

  1. Individual Retirement Account - ...

    An investing tool used by individuals to earn and earmark funds ...
  2. Traditional IRA

    An individual retirement account (IRA) that allows individuals ...
  3. Beneficiary

    Anybody who gains an advantage and/or profits from something. ...
  4. Custodian

    A financial institution that holds customers' securities for ...
  5. Will

    A legally enforceable declaration of how a person wishes his ...
  6. Letter of Intent - LOI

    A document outlining the terms of an agreement before it is finalized. ...
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