inherired ira
A father dies and leaves his IRA to his son, who sets up an inherited IRA. The son dies and leaves the inherited IRA to his spouse. Does it still remain an inherited IRA from the father or can the spouse transfer it to her own IRA?
A father dies and leaves his IRA to his son, who sets up an inherited IRA. The son dies and leaves the inherited IRA to his spouse. Does it still remain an inherited IRA from the father or can the spouse transfer it to her own IRA?
Permalink Submitted by Alan - IRA critic on Mon, 2016-07-11 22:25
It remains a non spouse inherited IRA and cannot by rolled over by the spouse of the beneficiary. The successor beneficiary spouse must continue the RMD schedule of the beneficiary son, and the IRA would be re titled showing the name of the surviving spouse successor beneficiary and her husband as the decedent.
Permalink Submitted by Matthew Campbell on Thu, 2016-09-01 18:57
Is the sons wife as executor of his estate able to set up an inherited ira in his name and when estate settled transfer it to her as the beneficiary of his estate?
Permalink Submitted by Alan - IRA critic on Thu, 2016-09-01 20:20