There are a few options a spouse can consider in dealing with the IRA they inherited from their spouse. Some options are more limiting, while other options are more flexible. The rules and the implications of each option can be confusing.
To help make this easier, we have created the “Should I Inherit My Deceased Spouse’s IRA?” It addresses common issues that arise when a client inherits a Traditional IRA from a spouse:
- Implication if spouse passed away before their Required Beginning Date
- Inheriting the IRA vs rolling the IRA into a Traditional IRA
- RMD calculations
5 yeardistribution rule
- Consideration if income is needed soon
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.