Estate inherited IRA from an uncle of the decedent
Hi All: I have an estate that inherited an IRA from an uncle of the decedent in 2019. There is a surviving spouse for the decedent in this matter. Please advise on the options. Thanks for any help.
Hi All: I have an estate that inherited an IRA from an uncle of the decedent in 2019. There is a surviving spouse for the decedent in this matter. Please advise on the options. Thanks for any help.
Permalink Submitted by Alan - IRA critic on Fri, 2020-02-28 16:12
RMDs to the estate, or for inherited IRAs assigned out of the estate by the executor, must be distributed over the remaining life expectancy of the uncle unless the 5 year rule applied to the uncle. The spouse of the decedent would not have any more options than any other estate beneficiaries since this was not the estate of the decedent. The Secure Act does not affect this scenario.
Permalink Submitted by David Mertz on Fri, 2020-02-28 18:18
I’m confused by the wording of in the original post. Was the decedent the orignal beneficiary of the uncle’s IRA and the estate of the decedent is now the successor beneficiary?