Trust is Beneficiary of ROTH IRA
Client just called and said their father just died leaving his ROTH IRA to his Trust. The 5 children are Beneficiaries of the Trust. What needs to be done at this time, and what can the kids do with the proceeds? I know some of this is based upon the wording of the Trust, but I need to know(assuming the Trusts proceeds are to be paid to the kids)what can they do with the ROTH IRA? I believe they take the RMD’s but it is all tax free. Thank you!
Permalink Submitted by Bruce Steiner on Thu, 2007-11-29 22:39
Perhaps the trustees can stretch it out over the oldest child’s life expectancy.