OK Fools-I need some help from all of you! My Mother recently passed away leaving a large IRA which had been placed in an Irrevocable trust that would pay benefits to my Dad during his lifetime-He was the Prime beneficiary of the original IRA document-I, and only child, was the contingent beneficiary. Unfortunately, my Dad passed away only 8 weeks after my Mother-one of those true life long love stories-. In the trust, my Mother left 50% to me, and 25% to each of my children. The first part of this question is the difference between what the original IRA agreement specifies as to beneficiary as neither of my children were named as contingent beneficiaries-and the second part is, with the new inherited IRA proposed guidelines-WHO'S lifetime will the ultimate distribution be over? Mine? 50% mine & 25% of each child's life expectancy? There is differing opinions depending on whom I talk to about the question of beneficiaries and about the distribution. Can any of you help me? Thanks so much.
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