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Questions & Answers

  • My client inherited an IRA from his aunt in 2006. She was 75-years of age when she died. However, he did not understand the rules and failed to distribute his required minimum distribution (RMD) amount by the December 31 ,2007 deadline. What should he do?

  • I inherited an IRA from my uncle, who died earlier this year before taking his required minimum distribution (RMD).  I am getting conflicting information about whether his RMD amount still needs to be distributed, and if so, who should take the distribution.  Assuming that his RMD should still be taken, should it be taken by me or his estate?