Option #2: Open an Inherited Roth IRA: 10-year method Option #3: Lump sum distribution Non-individual options If the beneficiary is not an individual (such as an estate, charity, or organization): If the original IRA owner was required to take RMDs at the time of their death, then RM...
Whether the original account owner had to take required minimum distributions (RMDs) can also influence what you can and should do with the IRA. Should you try to minimize taxes or maximize cash distribution from the account? These are a few of the complex questions that an inherited IRA pres...
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 ...
About the author:David Dixonis a registered representative with securities offered throughLPL Financial, member FINRA/SIPC. Dixon is also a member of Ed Slott's Elite IRA Advisor Group. For more information about this group, or to find a member near you, visitwww.irahelp.com. ...