Can a financial POA be named as a beneficiary by the principle for an inherited IRA?

UPDATED: Oct 2, 2022

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Can a financial POA be named as a beneficiary by the principle for an inherited IRA?

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 Indiana law, is my aunt allowed to
do so? She is able-bodied and of sound

Asked on August 8, 2019 under Estate Planning, Indiana


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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