What happens to the funds in my IRA if I die without a will? Will they pass intestate? If I named my brother as the beneficiary of my IRA, will he have trouble getting the funds?
Property that passes intestate
Many assets will not be subject to intestate succession.
This is because only property that would have passed through your Florida will, property you owned alone, will pass intestate.
What assets will not be subject to intestate succession?
Property transferred through a living trust.
Life insurance proceeds (since you name a beneficiary)
Funds in an IRA, 401(k), or other retirement account
Securities held in a transfer upon death account
Payable on death accounts and
Property you own with someone else in joint tenancy or tenancy by the entirety.
