owner dies b/f RMD, bene wants distributions over his life, plan does not allow bene's wish. Can bene get wish by transferring to another plan?

Since you're talking "plan" I'm assuming it's NOT an IRA.

So the answer is no.

That is a big problem with many plans that mandate a shorter payout period than the law. Unfortunately there is nothing you can do about it.



------------------
Barry Picker, CPA/PFS, CFP
New York, NY

Barry is correct (as usual) that once the participant dies, there isn't anything the beneficiary can do.

But if the plan so permits, the participant could take his/her money out during lifetime and roll it over into an IRA.

And if the plan doesn't permit the participant to take his/her money out during lifetime, the participant might want to consider naming a charitable remainder trust as beneficiary. This technique is more common when someone is past the required beginning date, named the spouse as beneficiary, elected recalculation and the spouse died first. But it would work in a similar fashion in this situation

------------------
Bruce Steiner, attorney
(212) 986-6000 (NY office)
(201) 862-1080 (NJ office)
also admitted in FL

Sorry about use of word plan; it's an IRA. When I said plan I was not using the correct terminology. I was thinking plan meant custodial agreement. Anyway if one custodian gives you trouble, can one just go elsewhere, or is he locked into the custodial agreement forever?

John,

You can move an IRA to another IRA in a trustee to trustee transfer.


------------------
Barry Picker, CPA/PFS, CFP
New York, NY