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Reply to "If your kids have UTMAs"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Kids are 18, 17, 14 Each have ~55k fidelity UTMA; 255k ROTH; 350k 529[/quote] Wow - how did their Roth’s get that funded / big at such a young age? [/quote] Inherited Roth passed from paternal grandmother (husbands mother, required lawyer, paying taxes & I don’t even know or understand what, but it’s there) [/quote] Oh well that certainly explains it. Keep in mind, a minor who inherits a Roth IRA must take RMDs until they reach age 21, after which they are subject to the 10-year rule, requiring the account to be fully distributed within 10 years of reaching that age. [/quote] The rules are different if the deceased was not the parent.[/quote]
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