Can IRAs be held jointly by spouses?

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An IRA cannot be held jointly by spouses. It can only be held in one individual’s name.

But one workaround, depending on what you’re trying to accomplish, would be to appoint the account-holder’s spouse his or her power of attorney. When triggered, a limited power of attorney would authorize the spouse to make trades within the account; a full power of attorney would allow the spouse to make withdrawals and transfers from the account as well. You should check with the brokerage firm that is the custodian of your IRA to see if it can accommodate a power of attorneyship; it may require you to fill out a proprietary authorization form.

Theodore E. Saade
Signature Estate & Investment Advisors LLC
Los Angeles,

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