The Listen to Lawrence Letter: An Inherited IRA distribution question

February 23, 2024
February 13, 2024 • Volume 5 Issue 216
Another Inherited IRA distribution question:

Hi Lawrence,

Regarding your 1/9/24 LISTEN TO LAWRENCE LETTER, I have 3 sons and plan to divide my IRA evenly 3 ways. Will each have RMDs?

Thank you.


The simple answer to your question is that, given certain time limits, each child will take their 1/3 of your IRA and create what is called an “Inherited IRA,” roughly titled, (YOUR NAME), DECEASED, FOR THE BENEFIT OF (THEIR NAME). From this inherited IRA, each child will take their required minimum distributions over a period of time depending on their circumstances, but usually over a 10-year period.

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