IRA with Trust as beneficiary
My cousins and I are beneficiaries to a trust! One of the assets is an IRA with the see-through trust as the designated beneficiary! Since the trust has multiple beneficiaries (all of which are human), can separate inherited IRA’s be set up for each beneficiary to receive the assets? The RMD’s would then be taken from each inherited IRA over the life of the oldest beneficiary by each of the beneficiaries. Can this be done and are there any Private Letter Rulings (PLR’s) to support this?
Permalink Submitted by Bruce Steiner on Mon, 2017-04-10 19:40
Depending on the terms of the trust, and possibly on state law, the trustees may be able to divide the trust into separate trusts for each beneficiary.
Permalink Submitted by Gerald Spaniol, CPA on Tue, 2017-04-11 13:46
Yes, I agree, but not seperate inherited IRA’s? Thank you!