Permalink Submitted by Alan - IRA critic on Tue, 2014-10-21 18:43
Yes, they can inherit without control of the funds and they also will be subject to RMDs following the year the owner passed. A financial guardian or the custodian of an UTMA account will administer the inherited IRA for the minor until the child reaches the age of majority. Another option is naming a child’s trust as the beneficiary of the IRA.
Permalink Submitted by Alan - IRA critic on Tue, 2014-10-21 18:43
Yes, they can inherit without control of the funds and they also will be subject to RMDs following the year the owner passed. A financial guardian or the custodian of an UTMA account will administer the inherited IRA for the minor until the child reaches the age of majority. Another option is naming a child’s trust as the beneficiary of the IRA.