College tuition, related fees, and room and board for the next 12 months for you, your spouse, or your dependents Money to avoid eviction or foreclosure on your primary residence Funeral expenses for you, your spouse, or your children or dependents Certain expenses to repair damage to your ho...
Divorced and taking a portion of your former spouse’s 401(k) under a court order A beneficiary and are taking a distribution from a 401(k) account you inherited Removing an excess contribution because you contributed too much in one year to a 401(k) Taking money out of your 401(k) to...
Under a special exception to the distribution at death rules, if the beneficiary is the surviving spouse of the owner, the annuity contract may be continued with the surviving spouse as the owner. If the owner of the annuity is a non-natural owner, then the annuitant's death triggers the ...
The third 5-Year Rule out there has to do with inherited IRAs. There are a lot of options when it comes to taking money out of an inherited IRA. They have also been changing recently, so the rules have been seemingly different every year for the last few years. Whether and how one w...
The inherited Roth will be subject to it’s own 5 year rule. If it was met while your spouse was alive, it will be met for you with the inherited plan. You’ll avoid penalties and taxes if you wait until after 59.5. Reply Bill June 5, 2018 Hi Jeff, Thank you for your ...