Ask Terry Questions RMD for spouse

RMD for spouse

By Terry Savage on January 04, 2024 | Financial Planning / Retirement

I’m 65 and the more I try to lean about RMDS the more questions arise .

Non spouce beneficiaries is often discussed , however should I pass what are the obligations my spouce would have with my IRA ? I have read that you should never change the name of the IRA – if I have started to take the RMD my spouce would still follow my Same life expectancy table withdrawals? If my spouce passes – what procedures for my kids to follow ?

Terry Says

You’re 8 years away from taking RMDs, and I’m sure the tax rules will change by then.
For now, just name your wife as beneficiary. If she passes before you, name someone (or two people, such as your children) as joint beneficiaries.
If you die first, she inherits your IRA and will name her own beneficiaries. And her tax consequences and RMD requirements will depend on the laws in effect at that time!

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