sjmo2 wrote:

- quote -

The rule for inherited IRAs with multiple beneficiaries is
that the payout must be based on the single life expectancy
of the oldest person. Now that mom has passed, this doesn't
change. The payout is still made based on her age at the
time of inheriting the account (decreased by one each year).
Once the money has gone into trust, it's too late to split
the accounts to take any advantage of the younger
beneficiaries to take a smaller payout.

I've used a book titled "Parlay your IRA into a family
fortune" by Ed Slott as a reference. The author is self
proclaimed to be 'America's IRA expert', and given the
number of articles I've seen him author in many mainstream
publications, I have little reason to doubt that claim.

Good luck,
JOE

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Our mother recently passed-away (age 63). She had inherited
an IRA from my father (who was under the distribution age)
and the IRA was then set-up as a trust with my mother and
the three surviving sons listed in the trust. Since her
death, what are the distribution options given that this is
a "doubly" inherited IRA in trust?

Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >