Surviving wife is 14 years younger
We have a client that recently died at 75 years old. He had started taking RMD’s several years ago without any issues. His wife is 61 years old. What table should be used to take her RMD from his account? Can we make this a spousal IRA and stop taking RMDs until she is 70 1/2? Any other planning opportunities for a widow that really doesn’t need the money?
Permalink Submitted by Alan Spross on Wed, 2012-02-22 18:37
His wife must complete the decedent’s year of death RMD to the extent it had not been completed, using the Uniform Table and the age he would have reached in the year of his death.
After that RMD has been distributed, she should roll the IRA over into her own IRA account. Her RMDs will not begin until the year she reaches 70.5, but since she is over 59.5 she can take any distributions she needs penalty free.