DEFINITION of 'Spousal Beneficiary Rollover'

A transfer of retirement fund assets to the spouse of the deceased. The transfer is generally done in one of two ways. The first way is for the retirement account to remain intact and simply be renamed to reflect the new owner. The second way is to transfer the funds to the spouse's account.

BREAKING DOWN 'Spousal Beneficiary Rollover'

The spouse is not automatically designated as the recipient of unused retirement funds. However, with many retirement plans, the spouse must give their consent for another recipient to be named. In some cases, for example in a qualified plan account, the spouse must be named the beneficiary.

RELATED TERMS
  1. Alimony Trust

    A legal arrangement where property is transferred to a former ...
  2. Non-Spouse Beneficiary Rollover

    A retirement plan asset rollover performed in the event of the ...
  3. Spousal IRA

    A type of individual retirement account that allows a working ...
  4. Eligible Transfer

    An IRS-allowed movement of assets into or out of an individual ...
  5. Qualified Terminable Interest Property ...

    A type of trust that enables the grantor to provide for a surviving ...
  6. Form 8857: Request For Innocent ...

    An IRS tax form used by taxpayers to request relief from a tax ...
Related Articles
  1. Investing

    How Your Spouse Affects Retirement Planning

    Make your spouse's income count when it comes to retirement planning.
  2. Retirement

    Retirement Planning for the Non-Employed Spouse

    A stay-at-home spouse probably racks up more hours working than any office jockey. Make sure he or she is set up to save for retirement, as well.
  3. Taxes

    The Tax Benefits Of Having A Spouse

    Check out the perks designed to promote and preserve your post-work savings - if you're married, that is.
  4. Retirement

    Who Should Be Your Retirement Account Beneficiary?

    The options for beneficiary of a retirement account generally fall into these five categories.
  5. Retirement

    4 Unusual Ways to Boost Social Security Benefits

    Working the system to get the highest legal Social Security benefits just got harder. Two long-time benefits strategies expired with the 2015 budget bill.
  6. Financial Advisor

    Making Social Security Work for Client Couples

    What are the best ways to advise client couples when it comes to filing for social security? Here are some strategies.
  7. Retirement

    Helping Couples Strategize for Social Security

    Even with the elimination of the file-and-suspend option for couples claiming Social Security, there are strategies they can use to maximize benefits.
  8. Retirement

    Wealth-Building IRA Rollovers

    Rollovers allow your tax-deferred retirement assets to grow, even when the world around you is changing.
  9. Retirement

    Retirement Accounts: What happens if a Spouse Dies?

    You don't automatically get your spouse's IRA, 401(k) and other accounts when he or she dies. Here's how to plan so the right survivors get the funds.
RELATED FAQS
  1. How do I roll over a spousal IRA?

    To roll over a spousal IRA, the surviving spouse can transfer the remaining funds from the deceased spouse's investing IRA ... Read Answer >>
  2. Is my husband's ex-spouse entitled to receive my spouse's retirement benefits?

    The rules vary among retirement benefits. In some cases, because you are the current spouse, you will be treated as the beneficiary ... Read Answer >>
  3. If I pass away, will my retirement plan go to my spouse tax free?

    If your spouse is the designated beneficiary of your retirement plan, the assets will pass to him or her tax free. The general ... Read Answer >>
  4. What are Social Security spousal benefits?

    Find out how the spousal benefits offered through Social Security work; learn how to qualify and how your benefit amount ... Read Answer >>
Hot Definitions
  1. Debt Security

    Any debt instrument that can be bought or sold between two parties and has basic terms defined, such as notional amount (amount ...
  2. Taxable Income

    Taxable income is described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments ...
  3. Chartered Financial Analyst - CFA

    A professional designation given by the CFA Institute (formerly AIMR) that measures the competence and integrity of financial ...
  4. Initial Coin Offering (ICO)

    An Initial Coin Offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture.
  5. The Bernie Madoff Story

    Bernie Madoff ran a multibillion-dollar Ponzi scheme that is considered the largest financial fraud of all time.
  6. Pyramid Scheme

    An illegal investment scam based on a hierarchical setup. New recruits make up the base of the pyramid and provide the funding, ...
Trading Center