Estate Planning Letter Involving an IRA Owner of a Traditional IRA Who Died Survived by Multiple Non-Spouse Beneficiaries

• Author: Seymour Goldberg
• Profession: Senior partner in the law firm of Goldberg & Goldberg, P.C., in Woodbury, New York
• Pages: 39-49

39

ESTATE PLANNING

LETTER INVOLVING

AN IRA OWNER OF

A TRADITIONAL IRA

WHO DIED SURVIVED

BY MULTIPLE

NON-SPOUSE

BENEFICIARIES*3

This estate planning letter involves the following assumptions: IRA

owner, Daniel Simpson, died on June 1, 2012, at the age of 74 and had

received his required minimum distributions prior to his date of death.

Only one inherited IR A is involved. Daniel Simpson had two chi ldren,

Devon Simpson (born Januar y 21, 1960) and A licia Simpson (born

October 1, 1966), the equal beneficiaries of Daniel Simpson’s IRA. (See

comments at end of each letter for the case in which there is only one

non-spouse beneficiary.)

The following letter could be sent to Devon:

* The material in t his section ha s been adapted in par t fromT he IRA Dis tribution

Rules:IRS Compliance and Audit Issues(Product #P TX1202D), publi shed by the Ameri-

can Inst itute of CPAs. Available at w ww.CPA2biz.com. Copyr ight 2012, Seymour

Goldberg. All right s reserved.

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