Understand how to manage inheriting an IRA, as well as the rules and choices to make the most of your inheritance. Managing your own retirement accounts can be confusing, but aninheritedretirement account can be even more complex—especially with the rules introduced by the SECURE Act in 2019...
When an individual does not choose which rollover they want to make, the retirement plan administrator is allowed to deposit the money into any IRA in their name. This is true when the plan account is between $1,000 and $5,000, and the account owner has not elected to receive the money...
2005. Aunt Sophie was the sole beneficiary of an IRA owned by her deceased husband, Uncle Henry. Aunt Sophie didn't treat the account as her own, and she'd begun taking required minimum withdrawals before she died. You then inherited the account, because Uncle Henry named you as ...