Return to the Household Finances Forum | Post a Follow-Up

 o
Help With Trust IRA

Posted by vipldy (My Page) on
Thu, Oct 14, 04 at 22:35

Our parents have both passed in the last year and they had a trust naming me and my brother trustees and Beneficiaries. The problem is our lawyer has spoken with the lady at the bank reguarding Dad's IRA and says we can split the IRA in half, we have to take his distribution amount this year but after that we don't have to touch it till I am 59 1/2. He calls it defering it.

My brother called the same lady and told him we could split the IRA in half and take the distribution as my Dad would have but also we have to take a yearly distribution going by the oldest age which is me.

I know you have to be a spouse to roll a IRA over to another. My Dad titled the IRA in his name and the trust is the beneficiarie. I am a home maker and my brother has a very good job. What can we do here.


Follow-Up Postings:

 o
RE: Help With Trust IRA

I do not see the difference between what you were told and what your brother was told. The website below has a tremendous amount of detailed information on Roth IRAs.

Here is a link that might be useful: Roth IRA Information Website


 o
RE: Help With Trust IRA

Trusts are EVIL. I've had to deal with two of them in the last three years, and one of them will still have to be dealt with.

I think IRA
thingees kinda die at death if the bennies are under-age. But maybe again, maybe not,,,,,, not real up on IRA's since all of my Trustors were before that time period.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Household Finances Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here