Spousal Beneficiary Rollover

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.

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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. Can IRAs be held jointly by spouses?

  3. 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 >>
  4. 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 >>
  5. When is it optimal to take my widow's Social Security benefit?

    Understand when you can apply to receive Social Security benefits as the surviving spouse of a worker and what this means ... Read Answer >>
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    If the IRA owner dies after the required beginning date (RBD) and his/her beneficiary is his/her spouse, the spouse beneficiary ... Read Answer >>
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