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Chad Boudreaux is a 58-year riverboat captain. He grew up in New Orleans and has worked on the Mississippi River his entire life. He works for a private company in New Orleans called Crescent River Pilots Inc. (CRP) and is married to Patricia, who is 35 years old. They have a seven-year-old son, named River. CRP sponsors a 401(k) plan that offers a Roth account and a separate ESOP. Chad has the following retirement plan accounts:

Account Description	Current FMV	Beneficiary
ESOP account from CRP consists of CRP shares. The cost basis for the shares is $75,000.	$400,000	Patricia
401 (k) Plan From CRP Inc.	$800,000	Patricia
401 (k) Plan from Schlumberger, where he worked in his thirties	$90,000	Patricia
Roth IRA (established in 2000 with a $2000 initial contribution; three years ago he rolled over a traditional IRA with a balance of $10,000	$45,000	Patricia
Traditional IRA (established twenty years ago with $15,000 of after-tax contributions)	$90,000	River
Inherited IRA from the death of his Mama. She died in the same year Chad turned 50 years old.	$120,000	River

1. Can Chad change the beneficiary designations on his IRAs without spousal consent? Can he change the beneficiary designations on his non-IRAs without spousal consent?

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