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Get your taxes done using TurboTax
"My understanding is there is federal law that states IRAs with no named beneficiaries, no surviving spouse, but surviving children then the children are the beneficiaries and may control their IRA distribution instead of the Estate."
There is no such federal law. In the absence of anything in the IRA agreement stating a default beneficiary other than the estate, the estate is beneficiary, even when there are surviving children or a surviving spouse.
‎February 23, 2020
6:55 AM