But some IRA custodians are more versed than others in the complex rules surrounding inherited IRAs. “Talk about it with the custodian ahead of time,” says Tully. “Plans are great, but only as far as the ability to have them properly implemented.” ...
Spouses have more flexibility in how to handle an inherited IRA. For one, they can roll over the IRA, or a part of the IRA, into their own existing individual retirement accounts. The advantage of this rollover is the ability to deferrequired minimum distributions (RMDs)of the funds until ...
Because of theCOVID-19 crisis,there has been a change in inherited IRA rules. Before the crisis and theend of the stretch IRA,there was a required minimum distribution. By the age of 72, IRA holders must make yearly withdrawals and pay taxes on them as well. However, under the CARES Ac...
You might think, I’m in my forties (enter age here) so I don’t need to think about the Required Minimum Distributions (RMD). For your own retirement accounts, you would be correct but the rules are different for Inherited IRAs. RMDs on an Inherited IRA and an Inherited ROTH IRA gene...