Hi,I would like to set up an IRA account for my non-working spouse. According to your "Foolish Retirement Plan Primer" this is called a "Spousal IRA". It states that the non-working spouse has to make less than $250/year during the time the contributions (max $2,000/year) take place. So long both spouses file a joint tax return for that year. These are my concerns:1. Do we need to specifically ask for a "Spousal IRA" when opening this account with a financial institution? In other words, are the forms different from those of a regular IRA? And if so, will most institutions know what I am talking about?2. What happens if the non-working spouse earns over the $250/year limit? Does this make the Spousal IRA invalid? If so, can it then be converted or rolled into a regular IRA in order to avoid taxes and penalties?I appreciate any help you can give me on this matter. We want to do this right from the beginning.Thank you so much!
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