Photo: AP

Clients have a right to keep their IRA beneficiary designations private. But you might want to advise them that this privacy can have a high price for loved ones – as the case of the late Wayne Wilson shows.

In 2010, the 9th Circuit Court of Appeals upheld the priority of an IRA beneficiary designation over the claim made by a widow who asserted her rights to receive qualified retirement plan benefits under ERISA’s surviving spouse requirements.  The case (Charles Schwab & Co. v. Chandler) was brought by the IRA custodian, Charles Schwab, to resolve a dispute between the four married children of Wayne Wilson and his widow, Katherine Chandler, to whom he had been married since 2000.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.