11-02-2006, 05:53 PM
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 Re: IRA of Surviving Spouse rick wintomac wrote: - quote - > In a community property state, when the surviving spouse's IRA was
Rick,> purchased with community funds, then does half of the *surviving > spouse's* IRA get added to the gross estate of the deceased > non-participant spouse? > If so, how is that reconciled with 408(g) while appears to be absolute > about community propoerty laws not applying to IRAs? > Thanks I think (you will want to verify) that the answer is that state law dictates what property interests an individual owns and then federal tax law applies a tax on that property. Thus, in most community property states, each spouse will own 1/2 of the community property. Then the gross estate, for federal tax purposes, consists of those property interests. I do beleive that there were several Supreme Court cases on point.... Kreig Mitchell http://www.coloradotrustattorney.com http://www.mechanicsofmoney.com/estate-planning.php |
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#-1
10-29-2006, 09:46 AM
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| IRA of Surviving Spouse In a community property state, when the surviving spouse's IRA was purchased with community funds, then does half of the *surviving spouse's* IRA get added to the gross estate of the deceased non-participant spouse? If so, how is that reconciled with 408(g) while appears to be absolute about community propoerty laws not applying to IRAs? Thanks |
| Tags |
| ira, spouse, surviving |
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