The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: RMD before death?||Date: 10/13/2013 2:21 PM|
|Author: TMFPMarti||Number: 119295 of 124965|
I found a list of the in-laws' IRAs which listed the other spouse as beneficiaries first and the family trust second.
This will not present a problem at your MIL's expected death. I'd still go ahead and take the rest of her 2013 RMD now anyway, just because it's one less thing to have to deal with in a relative hurry.
The problem with having other than "natural persons" names as IRA beneficiaries is that the entire account must be distributed within 5 years after death of the owner. This may create an unwelcome spike in taxable income. Going over all this with a tax advisor is an excellent idea.
Rule Your Retirement Home Fool
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|