![IRA Custodial Rules - Kind of Like Beer Pong, In a Way Thumbnail](https://static.twentyoverten.com/5edf9e636943de66bd7f9d35/MDtOHCHzzbJ/Beer-Pong-and-IRA-Custodial-Rules.jpg)
IRA Custodial Rules - Kind of Like Beer Pong, In a Way
With beer pong, there are a number of permutations and in-house rules that can apply. Such is the case with IRA custodians, as there are different in-house rules for different scenarios.
With beer pong, there are a number of permutations and in-house rules that can apply. Such is the case with IRA custodians, as there are different in-house rules for different scenarios.
If you're asking, "what's the process when a trust is IRA beneficiary?", then this article will help you with some foundational considerations to cover when it comes to this confusing topic.
If you have a traditional IRA (or a SEP or SIMPLE IRA) and you are age 73 or older during 2023, you must take an RMD by December 31, 2023. But what if your IRA is entirely illiquid? There are some possible solutions.
An advisor called and said his 75-year-old client had just passed away. He had questions about the payout rules applicable to the three IRAs the client left behind: a traditional IRA, a Roth IRA, and an inherited IRA from his sister.
You may not be familiar with the tax code’s “same-property rule” that applies to IRA-to-IRA (and Roth IRA-to-Roth IRA) rollovers. The rule requires that the property received in an IRA distribution must be the same property that is rolled over. Violating the same-property rule results in an IRA distribution becoming ineligible for rollover and therefore taxable.
An estate can become the beneficiary of a person’s IRA in a couple of ways. First, the estate could be named outright as the beneficiary on the beneficiary form. Another way an estate can become the beneficiary of an IRA is if no beneficiary is named at all.