Can IRAs be held jointly by spouses?

Marriage / Divorce, IRAs, Retirement Plans
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May 2018

An individual retirement account (IRA) must be established and maintained on an individual basis. It cannot be held jointly. However, the IRA owner may designate his or her spouse (or any other party) as the beneficiary of the IRA. In some states, the spouse must provide written consent if the IRA owner designates any party other than the spouse as the beneficiary of the IRA.

(To learn more about establishing a beneficiary for your IRA account, see: The Importance of Updating Retirement Account Beneficiaries.)

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