Should You Leave Your IRA to a Child?
Submitted by Ferguson Financial Inc. on July 23rd, 2018What you should know about naming a minor as an IRA beneficiary.
Provided by Greg Ferguson
Can a child inherit an IRA? The answer is yes, though they cannot legally own the IRA and its invested assets. Until the child turns 18 (or 21, in some states), the inherited IRA is a custodial account, managed by an adult on behalf of the minor beneficiary.1,2