Assume seems like the way to go.Sec 327 of Secure Act 2.0 provides for a third option, which is bound to cause confusion.I assume when my spouse calls Vanguard after my death, she will be advised of the best procedure? I have told her to "assume" my Roth but I really need to write this down for her along with a million other things.
Prior to this year, the surviving spouse either continued an inherited (Roth) IRA or elected to assume ownership. 2 options.
Now, the surviving spouse of a Roth owner is automatically treated as the owner, but only for RMD purposes. The Roth is still inherited for all other purposes.
And the surviving spouse can still opt to assume full ownership (ending the inherited status) at any time. And that is still what either of you should elect as a sole surviving spouse of a Roth IRA when the surviving spouse is over 59.5 because it will eliminate all RMDs.
Statistics: Posted by bogles the mind — Fri Oct 04, 2024 9:30 pm — Replies 17 — Views 1172
