AnnieR Posted March 6, 2008 Report Share Posted March 6, 2008 Client's "fiance of 30 years" passed away, she is beneficiary of his will, executrix, etc. If she withdraws money from his IRA, which the bank officer said they would give her $15,000 right now, does that make the remainder of his IRA taxable to her unless she rolls it over into another IRA? Don't know if it matters or not, but the majority of the $$ would go to pay his funeral expenses. Thanks for your knowledgeable answers. AnnieR Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 6, 2008 Report Share Posted March 6, 2008 Is she the beneficiary of the IRA? If a beneficiary, she can make RMDs based on her age if the owner was already making RMDs. the IRA remains a beneficiary IRA. She cannot roll the remainder into her own IRA, and all withdrawals are taxable. Quote Link to comment Share on other sites More sharing options...
AnnieR Posted March 6, 2008 Author Report Share Posted March 6, 2008 Thank you, Joan. Yes, she is the beneficiary and is 68 years old. He was 73, but I don't believe he had started RMDs yet. AnnieR Quote Link to comment Share on other sites More sharing options...
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