Don names a trust as the beneficiary of his retirement benefits. His wife, Milly, and their children Ed and John are beneficiaries of the trust. Which of the following statements regarding RMDs are true?
a. Milly can create a rollover IRA and defer distributions until her age 70½.
b. After Milly’s death, Ed and John can create inherited IRAs and take RMDs over their life expectancies.
c. RMDs will be paid based on Milly’s life expectancy, even after Milly has died.
d. A trust is not a designated beneficiary, so all benefits will have to be distributed within 5 years of Don’s death.