Please help - need some clarification here:
Younger spouse "A" had an IRA and and died in 1997 at the age of 63. Surviving spouse "B" ( who was 71 at the time) was advised at the time not to take over the IRA in his own name as that would trigger minimum required distributions based upon his life expectancy. Instead he was told to keep the IRA in "A"s name and start minimum distributions based on her life expectancy starting in the year that she would have attained 70 1/2.
Is this correct?