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Questions Answered by Nicholas Samuel Ratush
2 Answers | Asked in Estate Planning and Probate for Illinois on
Q: Who gets IRA payout when someone dies without beneficiary in IRA but with a will and living trust? Can it go to trust?

Deceased has a will & trust, but there is no beneficiary designated in IRA (rollover and Roth). Deceased does have a spouse.

Couple questions:

1.) Who gets the payout?

2.) If it goes to estate, can the payout be directed to trust? Please note the Will has a... View More

Nicholas Samuel Ratush
Nicholas Samuel Ratush
answered on Jul 9, 2022

Typically the default beneficiary, when one isn't designated, is the estate of the decedent. This means that you will probably have to go through probate.

1) Confirm this with the financial institution what documents they will require to access the funds;

2) Contact your...
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