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Inherited IRA – no designated beneficiary

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ByMobey

L1: Inherited IRA – no designated beneficiaryIRA participant dies at age 72. Her designated beneficiary was her husband who pre-deceased her. No other beneficiaries.
Her estate will go to her three brothers. My client is the middle brother who is age 66.
My understanding is that she has no designated beneficiary, but that since she already passed her RBD they can withdraw over her remaining life expectancy.
Here’s the rub (assuming I’m right so far) – the youngest brother wants to take his share immediately while my client and the oldest brother want to defer as long as possible.
Can they still split the IRA into thirds and decide individually to take outover the life expectancy of their sister or sooner if they so choose?2004-12-13 10:42, By: Mobey, IP: [67.106.28.17]

L2: Inherited IRA – no designated beneficiaryMobey:
Besides Bill Stecker’s book which is available on this site, let me recommend two other resources for you. The first, also available through this site, is Ed Slott, CPA, and his book “The Retirement Savings Time Bomb.”The second resource is “The Plain English Guide to IRA Distributions” by Leo Martin, “The IRA Doctor.” Call Leo at 800 255-2593 for information about his book, which is updated each year since it is a true “reference guide” like Bill Stecker’s book. I have personally usedall three references and have gained great knowledge on this subject to better serve my clients.
Jim2004-12-13 11:05, By: Jim, IP: [68.1.157.228]

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