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The Executor’s Guide to Retirement Plan Distributions: Income Taxes

Continuing a look at issues executors face when retirement benefits are payable to the decedent’s estate.

When retirement benefits are payable to a decedent’s estate, what unique obligations and opportunities does the executor of the estate have with respect to those benefits?

Last month, we looked at the executor’s responsibilities regarding required minimum distributions for such benefits as “Part 1” of my answer to the above question from an advisor. This month, we look at the income tax implications of taking distributions from a traditional retirement account. This brief summary is meant as an issue checklist, not a complete explanation, and does not cover Roth plans.