Spouse
Is your spouse the sole primary beneficiary of your IRA or other retirement plan? If not, for those married IRA owners living in a community property state, a valid spousal waiver must be on file with the custodian. A spousal waiver is required if the owner is legally married but has named someone other than his or her spouse or someone in addition to his or her spouse as a primary beneficiary. Also, are you aware of the special options afforded spousal beneficiaries? Will your surviving spouse elect to treat your IRA as his or her own? Will your surviving spouse choose to re-title it to an inherited IRA? This and many more factors are often overlooked and need to be considered during a BOSS review as they are integral components of a comprehensive retirement strategy.
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