My mother passed away in March of this year at the age of 74. She had 2 Traditional IRA's, each about $45,000. One was ITF for me and the other for my sister. She was taking required annual distributions (about 10%) already. They are both CD's earning about 6.5%.The bank is telling us we need to start taking distributions before Dec of this year, an accountant friend tells me he believes we dont have to start until Dec. of NEXT year.She has an estate tax number, I was wondering if the estate would receive the additional (over 65) tax benefit that my mom did and would we be better off keeping the money in her IRA as long as possible.Another problem is that one of the CD's matures on 12/18/01 and the other on 2/8/02. I dont want to let them renew at a 2.5 or 3% rate!Thanks
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Ma