You have quite a bit of flexibility here. Investments can be changet at anytime by you until the IRA is assigned to the beneficiaries and by the beneficiaries afterward. But it still may be wise to discuss your situation with the IRA custodian with respect to the inherited IRA mechanics. Basically, the simplest solution would be to convert the portfolio to cash in order to make it easier to set up the inherited IRA accounts with the same custodian. Each beneficiary can then transfer their own account to the custodian of their choice and invest as they wish. Obviously, the setting up inherited IRA accounts at different times creates some math issues, so it will be easier on you to have this done at one time. Depending on the investments the IRA holds now, the ahares could also be divided 7 ways and transferred in kind to each inherited account instead of using cash. A complex portfolio could cause issues with this and therefore discussion with the IRA custodian might result in good suggestions. Another situation exists if a certain beneficiary needs help and you want to help with their investments. In that case you could have the inherited account set up with the trust as beneficiary and then make your investment changes before that beneficiary’s share is assigned to that beneficiary. If all beneficiaries are competent adults you can avoid alot of the challenges.

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