Inherited IRAs

If you are the beneficiary of an IRA there are a few things that you should know.

A spouse who inherits has an option not available to other inheritors. She can roll the assets into her own IRA and postpone distributions from a traditional IRA until she turns 70 1/2.

A non-spouse, a child for example,  can draw distributions out over their own expected life spans, enjoying decades of income-tax-deferred growth in a traditional IRA.  However, to make sure that you will be able to take advantage of this “Stretch IRA”  you have to follow the proper procedures.

IRA has an article, “Five Rules for Inherited IRAs” that you should read.

For more details, call us.

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One thought on “Inherited IRAs

  1. […] you give yourself time to come up with a solid plan for how you’ll use the money.   If your inheritance includes an IRA, there are special rules that you will want to consult with financial planners […]

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