Federal Regulations

• Federal regulations require that a surviving spouse is named as the primary beneficiary on your IRA. The reason has to do with IRAs existing for retirement income. If a spouse is dis-inherited he or she may become a burden on the state for income purposes. So a spouse is generally named as the beneficiary. When your IRA is structured this way, there is no need to have a spouse sign the IRA forms.
  
  

Choosing Beneficiaries

• A person can choose to place other persons as a beneficiary. Choosing to name other people such as children as your primary beneficiaries has large tax consequences. If a child inherits an IRA, she can roll the IRA over into a beneficiary IRA and reduce the required minimum distribution over a longer lifespan. If the surviving spouse doesn't need the money, this can reduce the eventual tax burden when the entire estate passes on.
  
  

Waiving Rights

• When an IRA owner chooses to place other individuals as the beneficiary on the estate, the surviving spouse must be notified and sign a waiver acknowledging the other beneficiaries. The waiver exists to protect the rights outlined to a spouse by federal regulations. Essentially the waiver states that the surviving spouse is aware of the alternate selections and is not relying on the IRA assets for income.
  
  

Benefits

• The benefits of having a surviving spouse sign the beneficiary agreements is to make sure that everyone is doing the proper financial planning for all parties involved. The signing of the waiver usually triggers questions that result in conversations with tax advisors and estate planners to make sure the adjustment is in everyone's best interest. If a waiver isn't signed, the surviving spouse may contest the beneficiaries upon the death of the IRA owner.
  
  

Misconceptions

• A spouse is not required to sign the IRA documents. The account is owned by one person. The surviving spouse will only be required to sign a waiver if there are primary beneficiaries named other than herself.