I am the beneficiary of my Dad's IRA Account. Can I set up an Estate Account under his SSN now after he passed away, have me and my siblings listed as the beneficaries of the Estate Account, close out the IRA and put the money in the Estate Account, have the taxable income put against my Dad's SSN, then distribute the proceds

I don't think you can roll your Dad's IRA into another account. Since you, not the estate, are the beneficiary, the assets are now yours, and you can not just move them into the estate. I don't know that you can "refuse" the designation of beneficiary and thereby turn the assets back to the estate. Rules for IRA beneficiaries are pretty complicated, so you should consult directly with a tax accountant.

Here is a helpful article on withdrawal rules for IRA beficiaries:

IRA Beneficiaries (http://www.estateattorney.com/irabenef.htm)

Is your objective to be able to "share the wealth" of the IRA with your siblings? One option is that each year as you make a withdrawal you split the after-tax amounts with your siblings - treat the distribution as a gift. As long as the amounts are under $10K each ($20K if you are married), there would be no tax consequences.

I agree with Ebaines; go consult with a tax accountant. You have to consider your overall income when making such decisions.