I'm dead but withdr...
 
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I'm dead but withdrawals for my expenses continue

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Posts: 2
Customer
Topic starter
(@jeffusm)
New Member
Joined: 4 weeks ago

I have indicated on the home page and in the start age stop age column that I will die before my wife, however looking at withdrawals from our IRAs I see that excess withdrawals continue to cover my expenses rather than the reduced expenses of my wife. Is this a bug or do I need to do something else?? Thanks

3 Replies
Posts: 424
Admin
(@smatthews51)
Member
Joined: 2 years ago

The tool assumes that your wife inherits your IRA and the RMD's continue according to her age, but the account balance is NOT moved over to her account. The tool doesn't specifically allow you to enter "your" expenses vs. "her" expenses, so I'm not sure what you mean by covering your expenses. RMD's will be withdrawn regardless of expenses but unscheduled withdrawals will only occur if you have a negative cash flow and the tax-deferred account is the one covering that. So, if this doesn't fully address your concern, please elaborate.

Stuart

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Posts: 2
Customer
Topic starter
(@jeffusm)
New Member
Joined: 4 weeks ago

There are two columns for expenses on the expense page, one for me and one for my spouse, I assume that when I am scheduled to die before her, my expenses will stop being charged and hers will continue. That seems to be the case. The transfer of iras is happing just fine. Thanks

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Posts: 424
Admin
(@smatthews51)
Member
Joined: 2 years ago

Oh, OK. I didn't realize you were referring to the Bronze tool. It does NOT automatically stop your expenses upon your death. The only purpose served by designating expenses as lodging and food will continue if your spouse outlives you and this prevents you from having to add two rows for such items.

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