Joint Life Table
Spouse is 20 years younger than IRA owner and is the sole PRIMARY beneficiary. If there are contingent beneficiaries as well, can the owner and spouse still use the Joint table? Is there anything “out of the ordinary” upon the owner’s passing? Is spouse allowed to (or does she have to) stay with that (Joint) table, or would another be more advantageous? Thanks!
Permalink Submitted by mk foss on Wed, 2010-10-13 17:25
The Joint Life Table can be used as long as the spouse is the only primary beneficiary.
Once the owner passes away, the joint table cannot be used. The spouse would switch to the single life table if she takes payments as a beneficiary. If it’s rolled over, it’s treated as if it had always been her account. The uniform table would apply as soon as she reaches her Required Beginning Date – April 1 after attaining age 70-1/2.