|
|
02-15-2012, 04:11 AM
|
#61
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,710
|
Quote:
Originally Posted by kaneohe
|
Right. After the first year the beneficiaries age is used to determine the RMD.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
02-15-2012, 06:35 PM
|
#62
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
|
Well, it depends. If you are one of a group of beneficiaries, you'll not be taking it under your own life expectancy, but under the oldest persons (sometimes). And for some of them, I've seen it accelerated through a court order, especially when there is some dispute as to ownership. It can get fairly complicated, and if at all possible, leave it to your spouse, which will allow them to simply put it in their own IRA accounts.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
|
|
|
02-15-2012, 06:57 PM
|
#63
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,710
|
Quote:
Originally Posted by Sarah in SC
Well, it depends. If you are one of a group of beneficiaries, you'll not be taking it under your own life expectancy, but under the oldest persons (sometimes). And for some of them, I've seen it accelerated through a court order, especially when there is some dispute as to ownership. It can get fairly complicated, and if at all possible, leave it to your spouse, which will allow them to simply put it in their own IRA accounts.
|
Sometimes. If the inherited IRA is split and each beneficiary given their share in their own account, the following year each uses their own age for RMDs. Clear as mud.
|
|
|
02-15-2012, 08:08 PM
|
#64
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
|
Quote:
Originally Posted by MichaelB
Sometimes. If the inherited IRA is split and each beneficiary given their share in their own account, the following year each uses their own age for RMDs. Clear as mud.
|
And you wonder why I never venture to answer questions about this stuff!
Try explaining SIMPLE IRA eligibility sometimes, totally defies the imagination!
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
|
|
|
02-19-2012, 04:19 PM
|
#65
|
Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
|
Quote:
Take that tax man....Right on Dude.
|
|
|
02-19-2012, 04:21 PM
|
#66
|
Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
|
Quote:
You are killing me, Dude, I like your thinking.
|
|
|
02-19-2012, 04:32 PM
|
#67
|
Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
|
Quote:
Originally Posted by MichaelB
Sometimes. If the inherited IRA is split and each beneficiary given their share in their own account, the following year each uses their own age for RMDs. Clear as mud.
|
Exactly the way my three sisters and I are using the Inherited IRA from my deceased brother.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
Similar Threads
|
Thread |
Thread Starter |
Forum |
Replies |
Last Post |
Fed Warns Congress
|
chinaco |
FIRE Related Public Policy |
7 |
08-27-2011 07:07 AM |
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|