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Hello, Redhed,

However, for purposes of estate planning, an individual IRA account for each heir (with identical holdings in each, if you wish to equally divide your estate between the heirs) is recommended. This will allow your heirs to take their distributions at a rate calculated according to their own age, rather than the age of the oldest heir (should one IRA be divided among them).

One account per heir is one option, but unnecessary for the purpose suggested. It is only necessary to divide the IRA after death byu September 30 of the year after death for each heir to calculate their inheritance distributions according to their own age.

The tax code does provide a major advantage if the IRA with a spousal beneficiary is separate from the other beneficiaries. The spouse can then take the IRA as her own IRA, and option not available if she inherits it with others.

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