Older Spouse Inherits IRA
I have a question regarding an inherited IRA. Here are the pertinent facts the way I understand them to be:
Husband died 11/9/2006 at the age of just over 59.5
Husband’s DoB was 3/17/1947, so he would be 61 today if he were still alive
He had an IRA which was rolled over into an Inherited IRA with his wife the beneficiary of the inherited IRA
Wife was born 2/28/1923 so she is currently 85 years old
Wife was 83 when husband died
My Questions are:
When will wife be required to take RMD’s from this inherited IRA?
And what Table should she use to calculate the RMD’s?
Thanks
Permalink Submitted by Alan Spross on Wed, 2008-05-07 22:22
Wife will not have to take RMDs until the year her husband would have reached age 70.5, which is 2017. However, when that year arrives, she should assume ownership of the IRA so she can use the Uniform Table III which will have a divisor of 9.1 rather than 4.3 from Table I. This would reduce the RMD amount by more than 50% and it would improve the RMD requirement for her successor beneficiary as well.