Death of Older Husband

Submitted by Deena Wagner on Fri, 2017-01-27 14:46

Both Husband and Spouse have been taking RMD’s for several years. Husband is older than wife. Husband dies mid January of 2017.

Wife plans on changing ownership of husband’s TIRA to her name to take advantage of lower RMDs.

How soon must this be done? Do funds get added to her existing TIRA or is a new one created. If a new one, how should it be titled?

Husband completed taking his RMD for 2016. Does he have to take an RMD for 2017 – he died mid Jan 2017? If so when would this be done – before or after transferring IRA to wife’s IRA.



Submitted by Bruce Steiner on Fri, 2017-01-27 15:04

She should do it as soon as she’s sure she’s not disclaiming it.  If she dies before rolling it over, the opportunity to do so will be lost.

Submitted by Alan - IRA critic on Fri, 2017-01-27 16:07

  • Since husband passed in 2017, his wife will have to distribute his 2017 RMD. This can be done after assuming ownership of his IRA and before the rollover or done after the rollover. If done after the rollover she will have to add his 2017 RMD to her own RMD for 2017. Starting in 2018, she will have a single RMD on the combined account balance using her age.
  • After assuming ownership of his IRA, she can immediately roll it over to her own IRA, which will be titled just as it was before his death with her name only.
  • Of course, she should change the name of her beneficiary ASAP to whoever she wishes.
  • If there was any basis in husband’s IRA, she inherits it and should add Form 8606 to her own IRA, showing his remaining basis on line 2.

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