Since there is no standard definition of a stretch IRA, or the all the decisions that comprise one, it should be pointed out that the basic objective of a stretch IRA is to make it last as long as possible, regardless of how many beneficial interests control that IRA during it’s tenure.

Here are some of the elements that can make such an IRA last, other than the obvious characteristics of growing the assets by contributing as much as possible and investing it wisely:
1) Do NOT take distributions from the IRA until RMDs require same. RMDs taken at year end vrs early in the year will increase the stretch period.
2) Consider the beneficiary election carefully. A spouse can assume ownership, and sometimes this preserves IRA assets, but if the spouse is much older than the decedent, naming the spouse can drain the account faster. In that case, if other assets can be left to the spouse, perhaps the IRA can be left to children or even grandchildren. The younger the beneficiary, the longer the stretch. Disclaimers can be used to waive a beneficial interest or a portion of that interest. Consider beneficiary changes later in retirement and/or in the very late life stages.
3) However, point 1) applies equally to beneficiaries. If the IRA is to last, no more than the RMD should be distributed. Points 1 and 3 indicate that the most critical factors to a max stretch could come down to discipline and having other assets to provide for current expenses. A qualified trust can be named as beneficiary to force the discipline if necessary.
4) Sometimes the IRA must be split between beneficiaries of variable age. This can still be considered a stretch IRA, but one portion will have a longer stretch than the other.
5) A Roth conversion can provide an even longer stretch by avoiding any RMDs whatsoever until the beneficial interest falls to a non spouse.

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