Inherited IRA
I have a client who has an Inherited IRA from his dad’s passing in 2015. His wife is the beneficiary of his Inherited IRA. At his death, what is the wife allowed to do as the beneficiary?
I have a client who has an Inherited IRA from his dad’s passing in 2015. His wife is the beneficiary of his Inherited IRA. At his death, what is the wife allowed to do as the beneficiary?
Permalink Submitted by Alan - IRA critic on Thu, 2024-06-27 22:41
His wife will be a successor beneficiary, will have to continue the client’s RMD schedule, and also drain the inherited IRA in year 10 per the 10 year rule. Wife’s age is not a factor.
Permalink Submitted by William Sanders on Thu, 2024-06-27 23:48
Thank you very much. Appreciate your reply.