---
title: Can My 80-Year-Old Dad Give Me Money from His IRA?
description: 'Q: My 80-year-old father has a substantial amount in his IRA. Can he give it to his children right now? -- Roxanne, Brownsville, Texas A:…'
authors:
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published: '2013-11-19T03:21:29.000Z'
modified: '2013-11-19T03:21:29.000Z'
section: Retirement
tags:
  - Ask the Expert
  - IRA
  - ira withdrawal
  - Roth IRA
  - Traditional IRA
  - withdrawal roth ira
  - withdrawal traditional ira
word_count: 138
canonical: https://money.com/80-year-old-dad-give-ira-money/
type: Article
source: structured-blocks
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**Q: My 80-year-old father has a substantial amount in his IRA. Can he give it to his children right now? -- Roxanne, Brownsville, Texas**

A: Your dad can't transfer the account directly, says Ed Slott, publisher of *Ed Slott's IRA Advisor* newsletter; he could, however, take out all he wants, pay any taxes due, and then hand out the money.

His withdrawals from a traditional IRA, other than nondeductible contributions, would be taxed as ordinary income; Roth IRA withdrawals are tax-free if the account has been open for five years.

Unless the kids need cash urgently, it's better to name them as beneficiaries.

Upon your dad's death, a child can keep the assets growing tax-deferred in an IRA, taking mandatory minimum distributions based on life expectancy. Money from a traditional IRA is taxable; inherited Roth money generally isn't.

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