RayJJohnsonJr Posted February 17 Report Share Posted February 17 Hi. The situation is that an 85+ year old client has a terminal disease and has a life expectancy of several weeks to maybe a few months. This person has no spouse and has named his four adult children as beneficiaries of about $300k each. I've read everything I can find on the new Secure Act rules, and it seems the best planning the beneficiaries can do is inherited IRAs and withdraw the money over a 10-year period. But I'm not even sure that's correct. Can the beneficiaries implement inherited IRAs to receive their distribution from the deceased's pension plan If so, is the period during which they must withdraw the money 10 years? And if so, must withdrawals be level or can they wait 9 and 1/2 years and take all the money at once? Or decide each year how much they want as long as they take it all out in 10 years? Is there a tax deferral strategy that's better, if deferring taxes is their goal? Thank you. Link to comment Share on other sites More sharing options...
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!Register a new account
Already have an account? Sign in here.Sign In Now