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Posted by DORFMONT@aol.com (Linda Dorfmo on July 25, 2007, 6:22 pm
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>> Starting for distributions made after 2006. See
>> =A7402(c)(11), which apparently applies to IRA's as well as
>> other kinds of pension trusts.
> But to clarify they can't technically roll it over into
> THEIR OWN account, right? Doesn't it have to be an IRA of
> the decedent for the benefit of the beneficiary? It can't be
> trustee-to-trustee transferred into the beneficiaries
> existing IRA. Is that correct?
I asked Steve Honeyman CPA, an instructor for the Spidell
Tax Seminars (California taxes), at a seminar this past
Friday. After bemoaning the lack of proper planning, he
told me that the son as trustee could direct the life
insurance company holding the money to distribute it to The
Inherited IRA of Son and The Inherited IRA of Daughter. IRC
408 allows it. The benficiaries of the trust are clearly
known and can be determined.
Linda Dorfmont E.A., CFP, CSA
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