kwalified Posted December 18, 2018 Share Posted December 18, 2018 A traditional IRA holder has reached age 70.5. When he passes away he plans on leaving the IRA to his children. Will they be required to continue to take RMD's upon their father's death or are they postponed until age 70.5? Link to comment Share on other sites More sharing options...
Lou S. Posted December 18, 2018 Share Posted December 18, 2018 Distributions will have to continue after death. Link to comment Share on other sites More sharing options...
ETA Consulting LLC Posted December 19, 2018 Share Posted December 19, 2018 There are 'basically' four distinct scenarios: 1) Participant dies on or after the Required Beginning Date and spouse is beneficiary 2) Participant dies on or after the RBD and spouse is not the beneficiary 3) Participant dies before RBD and spouse is the beneficiary 4) Participant dies before RBD and spouse is not the beneficiary Each of these has their own set of rules. It helps to be able to determine the appropriate scenario and then apply the set of rules for that scenario. Good Luck! CPC, QPA, QKA, TGPC, ERPA Link to comment Share on other sites More sharing options...
kwalified Posted December 19, 2018 Author Share Posted December 19, 2018 There is no spouse Link to comment Share on other sites More sharing options...
Appleby Posted December 20, 2018 Share Posted December 20, 2018 On 12/18/2018 at 2:25 PM, Lou S. said: Distributions will have to continue after death. I agree. Distributions must begin by 12/31 of the year, following the year of death. If separate accounting occurs by 12/31 of the year, following the year of death., they can each use their own life expediencies to calculate post death distributions. If not, then the life expectancy of the oldest beneficiary must be used. Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com Link to comment Share on other sites More sharing options...
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