Can a financial POA be named as a beneficiary by the principal of an inherited IRA?
Question Details: My aunt has an inherited IRA and would like to name me as a beneficiary. I was appointed as her medical and financial power of attorney a few years back. Under state law, is my aunt allowed to do so? She is able-bodied and of sound mind.
Yes, an attorney-in-fact or agent (those are the terms for someone given power by a POA) can made the beneficiary of in inherited IRA or, for that matter, life insurance or a will. Having power through a POA is completely separate from being a beneficiary after someone's death.
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