Estate named as beneficiary on traditional IRA deceased age 58
If the will designates the beneficiary will we establish an Inherited IRA with a 5 year payout, if it doesn’t designate and the court decides is the account set up under the estate as an IRA with a new TIN with a 5 year payout. Thanks..
Permalink Submitted by Alan - IRA critic on Mon, 2023-03-27 17:09
The inherited IRA under a TIN must be established by the executor whether there is a will or not, and regardless of what provisions are in the will. The 5 year rule applies even if there is a beneficiary to which the executor may be able to assign the inherited IRA out of the estate.