Inherited Question – Both parents passed
Daughter age 65 just inherited IRAs from both parents. So she has to have two new policies one father FBO her and another mother FBO her. Question I have is: the mother had a couple IRAs and another 403b. Can those be rolled into one inherited IRA at new custodian?
Thanks
Permalink Submitted by Alan - IRA critic on Fri, 2013-11-15 00:27
The plans inherited from her mother can be combined into one inherited IRA providing that the RMD divisor would be the same. It almost always would be unless there were other beneficiaries and the rollovers were not done by the deadline for separate account RMDs to be based solely on the specific beneficary’s life expectancy. Also, note that daughter has the option to convert all or part of the inherited 403b to an inherited Roth IRA if she wishes, but cannot convert the inherited IRA accounts.