IRA BENEFICIARY PLANNING
WHAT is cost to proper Roll over IRA planning if i want my total IRA to continue just RMD for me my spouse and my children to follow secure act 2 but take distribution partial every year for 9 years. can they leave for theire children? can i make my grandchildren beneficiary for part of account?
Permalink Submitted by Alan - IRA critic on Fri, 2024-02-02 23:12
If your children inherit your IRAs subject to the 10 year rule, there is a good chance that the account wlll be fully distributed before their death, meaning nothing left for their beneficiaries. But if you leave part of your IRA directly to your grandchildren, they will inherit subject to their own 10 year rule. If your child passes before 10 years has passed, their beneficiary will only get the remaining time left of the child’s 10 years. Of course, if both you and your children limit your distributions to just the RMD only, more money could pass to your children’s beneficiaries.