RMD for deceased individual
My aunt passed away this year before taking her 2017 RMD.
I recall Ed’s articles often discussing the need to distribute the RMD before the IRA heirs get checks.
The broker transferred the last RMD to the estate account then mailed checks for the balance to each heir.
His backstage now says that is /was the wrong way to proceed.
What should have happened?
Permalink Submitted by Alan - IRA critic on Tue, 2017-05-09 20:18
What you indicated should not happen unless the aunt’s estate was the IRA beneficiary or the default beneficiary because she failed to name individual beneficiaries. Who was named on the IRA agreement as beneficiary? After an IRA owner’s death, distributions can only be made to the beneficiary of that IRA. Is this broker with the IRA custodian firm?