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What Bob said with one addition:

The life expectancy is based on the oldest beneficiary when there is more than one non-spouse bene and you leave it all in one account.

It is based on individual life expectancy if you separate them by the end of the year following the year of the original owner’s death, then each bene gets to treat his own inherited portion as if he were the sole bene.

This could save you some money in taxes in the long run.
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