11-29-2020, 02:48 AM
My mother is alive and doing well and my father passed away in 2020. As the executor/trustee of my parent's estate, I wanted to make sure I understand inheritance rules for the three IRAs that are in my mother's name:
1. Rollover IRA - I understand with the passage of the SECURE Act, non-spouse beneficiaries have 10 years to complete IRA distributions following the death of the account owner. This account it straight forward
For the following two accounts, my mother inherited these from my father:
2. Roth IRA - if my mother's children inherit this account:
a. Is the 10 year rule applicable per the SECURE Act; or
b. Since my father was the original owner would not spouse beneficiaries have to take RMDs?
3. Traditional IRA BDA - if my mother's children inherit this account:
a. Is the 10 year rule applicable per the SECURE Act; or
b. Since my father was the original owner would not spouse beneficiaries have to take RMDs?
1. Rollover IRA - I understand with the passage of the SECURE Act, non-spouse beneficiaries have 10 years to complete IRA distributions following the death of the account owner. This account it straight forward
For the following two accounts, my mother inherited these from my father:
2. Roth IRA - if my mother's children inherit this account:
a. Is the 10 year rule applicable per the SECURE Act; or
b. Since my father was the original owner would not spouse beneficiaries have to take RMDs?
3. Traditional IRA BDA - if my mother's children inherit this account:
a. Is the 10 year rule applicable per the SECURE Act; or
b. Since my father was the original owner would not spouse beneficiaries have to take RMDs?