The IRS has recently proposed a new way to interpret rules for inherited IRAs through the SECURE Act. If this gets approval, how will this affect the way you handle your inherited IRA? In this episode, Financial Advisors Rose Price, CFP® AIF® and Chris Mellone, CFA CFP® AIF® help you to better understand the proposed rules and discuss ways to strategize with an advisor to account as part of a comprehensive financial plan. Want to learn more? Schedule a call with Rose or Chris at www.vlpfa.com

#personalfinance #finance #financialadvisor #advice #investment #markets #secure #secureact #inheritance #education…(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

If you’ve recently inherited an IRA, you may be wondering what the rules and regulations are for managing it. It’s important to understand the rules and regulations for inherited IRAs in order to ensure that you’re making the most of your inheritance.

First, you should understand the basics of an inherited IRA. An inherited IRA is an individual retirement account that is passed on to you from a deceased loved one. It can be used to save for retirement and to provide financial security for you and your family.

When you inherit an IRA, you will need to make some decisions about how to manage it. It is important to understand the rules and regulations surrounding inherited IRAs so that you can make the most of your inheritance.

One of the most important rules to understand is the required minimum distribution (RMD). This is a rule that requires you to take a certain amount of money out of your inherited IRA each year. The amount of the RMD is based on your age and the amount of money in the account. It is important to understand the RMD rules so that you can make sure you are taking out the proper amount of money each year.

Another important rule to understand is the spousal rollover. If you are the surviving spouse of the deceased, you may be able to roll over the funds from the inherited IRA into your own IRA. This can be a great way to save for retirement and to ensure that you are making the most of the money you’ve inherited.

Finally, it is important to understand the tax implications of inherited IRAs. Inherited IRAs are subject to different tax rules than regular IRAs, so it is important to understand the tax implications of your inherited IRA.

Understanding the rules and regulations surrounding inherited IRAs is essential if you want to make the most of your inheritance. It is important to understand the required minimum distribution, the spousal rollover, and the tax implications of inherited IRAs. By understanding these rules and regulations, you can ensure that you are making the most of your inheritance and that you are taking full advantage of the financial security that an inherited IRA can provide.