My father in law passed away at 91 years old. He had a Rollover IRA worth 1.793M (balance as of 08/2024). My wife is one of five siblings. Each received one fifth, or 358,600.
My father in law didn't take his 2024 RMD before passing. A RMD still needs to be taken by the five heirs. We're being told that a RMD needs to be taken by year end of 143K (based off of balance of 12/2023).
Do we just take the 143K and divide by five to get what our portion of the RMD is? Then we would start the ten year process starting next year (the year after his death).
bcc
My father in law didn't take his 2024 RMD before passing. A RMD still needs to be taken by the five heirs. We're being told that a RMD needs to be taken by year end of 143K (based off of balance of 12/2023).
Do we just take the 143K and divide by five to get what our portion of the RMD is? Then we would start the ten year process starting next year (the year after his death).
bcc
Statistics: Posted by bcc1234 — Tue Sep 17, 2024 12:55 pm — Replies 2 — Views 113