Ask Terry Questions column from 3-27-19/Roth IRA

column from 3-27-19/Roth IRA

By Terry Savage on April 14, 2019 | Financial Planning / Retirement

Hi Terry,
Your columns are also extremely informative. I just want to clarify something. in your column from 3-27-19, you mentioned the following “And your children and grandchildren, as beneficiaries, can continue growing the account tax-free after you die — if you educate them to leave the money in the account after you’re gone!” My question is will they be required to take an RMD?

Thanks in advance for your response.


Terry Says

If it is a Roth IRA, there is never a required minimum distribution.  The other requirements for beneficiaries depend on their relationship to the deceased, whether the deceased had already started taking RMDs, and the beneficiaries ages.

Here is a link to a terrific section at the Schwab website explaining the rules for spousal and non-spousal beneficiaries –and depending on whether distributions had already started.

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