ROLL OVER IRA
IF I WANT my grandchildren to be beneficiaries who are minor does my spouse has to waive her right first? if my grandchild becomes 18 while others are still minor what will be rules of distribution of acccount? also who is custodian and what rule they have to follow . my funds are in swab chase and new york life
Permalink Submitted by Alan - IRA critic on Wed, 2024-01-24 18:58
Your spouse would only have to waive her interest in your IRA if you are in a community property state. Grandchildren who inherit IRAs are subject to the 10 year rule at all ages unless disabled. RMDs in years 1-9 are required if you pass after you are taking RMDs. These rules apply to all custodians.