Roth IRA BDA
Hello,
I have a client who is the executor of Roth IRA BDA for her husband’s estate and she is looking to move the funds to her own Roth IRA and treat the assets as her own. Do we see any issue on the wife treating the assets as their own even if the husband had his estate listed as the beneficiary on the Roth IRA? Any help is greatly appreciated.
Thank you.
Permalink Submitted by Alan - IRA critic on Wed, 2019-10-09 01:50
The IRS has issued numerous private letter rulings allowing a surviving spouse who is the beneficiary of their spouse’s IRA (or Roth IRA) and also the estate executor to do a spousal rollover. The challenge is finding a custodian that accepts these rulings and does not ask the client to get their own ruling. Such a ruling would be very expensive and largely unnecessary. If a custodian will require the PLR number of one of those rulings and will then allow client to open a Roth IRA for assignment of the estate inherited IRA, please advise.
Permalink Submitted by Bruce Steiner on Sun, 2019-10-13 19:58