IRA not rolled over to beneciary before beneficiary passed
Forgive my awkward terminology. I new to this world of IRAs.
My step mother died 15 months ago. My father was her beneficiary. And she left a customized contingent(I think that’s what it was called) of beneficiaries of 5 people-myself, brother and step sisters and an organization, that doesn’t exist anymore, in equal portions.
My father died two weeks ago. In the 15 months between their deaths he didn’t rollover her IRA or set up an inherited IRA. Now does the IRA go to an account under my dad’s name and then split according to the will beneficiaries. Or does it go to the contingent beneficiaries?
Thanks
Permalink Submitted by Alan - IRA critic on Wed, 2017-05-24 02:51
As it stands, the IRA goes to your father’s estate. The deadline for his executor to disclaim the IRA on his behalf has passed, so that option no longer exists. There are some complex rules with respect to RMDs, so would need to know the age of your step mother at her date of death.