Successor Beneficiary
I have a client who is inheriting her mothers beneficiary IRA which was inherited by her father. This will be considered a successor beneficiary IRA. It is my understanding that our client will follow her mother’s RMD schedule. I’m just wondering something. Now that rules have changes a bit, beneficiaries now have to deplete their beneficiary account within 10 years. Would this also be the case in this situation?
Permalink Submitted by Alan - IRA critic on Thu, 2020-09-10 00:18
If mother owned the IRA and passed prior to 2020, client will be subject to a new 10 year rule upon father’s death after 2019, regardless of whether father became the IRA owner or maintained his interest as a beneficiary.