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No. of Recommendations: 3
yes, you can by filling out a few forms at the broker's office.

Allocate a percentage to each child. The children I believe have 5 years to take out all the monies.

Just a thought,

Sorry, your thought is wrong. The link you gave provides no information on changing beneficiaries after the IRA has been inherited, because it's not possible. Only the owner is allowed to change the beneficiaries, and since the owner (the OP's FIL) is deceased, he can't do that any longer.

Ownership of the IRA does not change when it is inherited. The beneficiary is just that - a beneficiary, not the owner. Properly titled inherited IRAs should always have both the original owner's name and the beneficiary's name - something like "OP's FIL IRA (deceased xx/xx/18) F/B/O OP's DH, Beneficiary" or "OP's DH as beneficiary of OP's FIL"

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