Beneficiary of IRA

Submitted by Mary Timura on Tue, 2019-06-25 15:07

I have a client with an IRA belonging to Grandmother that was left for the benefit of her granddaughter.

Can the IRA share be rolled over to an inherited IRA titled to trust for the benefit of granddaughter. Then the granddaughter would take RMD based upon her age(15) beginning in 2019. Trust is named beneficiary on beneficiary form.



Submitted by Bruce Steiner on Tue, 2019-06-25 21:42

  • If the trust for the granddaughter is the named beneficiary, then there will be an inherited IRA for that trust.  If the trust qualifies, the trustees will take the required distributions over the life expectancy of the oldest beneficiary of the trust.

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