My friend's uncle manages a Roth IRA for him that is in my friend's name. He has had this account open since my friend was little (obviously before he was earning any income of his own).
I don't know all the details, but I also don't understand how something like this works.
It made me wonder this: if I open a Roth IRA account, is there any way I can transfer it to someone else down the line (and not just withdrawing from it, I mean with all the capital gains and deferred taxes)?
Either by my death, or some other way, can a Roth be transferrable to another individual? Does anyone know a way?