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Confusion continues over the new rules for inheriting IRAs. Here is what you need to know as of April 2024. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find...
When you inherit and IRA you have some rules to follow but you also have some choices. Should you take a distribution in year 1, year ten, or average it out? Map out the next decade to pinpoint the best times for taking IRA distributions—timing is everything. Don't let the IRS catch you off guard...
Get the financial planning help you need for your inherited IRA: The IRS has a clause in its code that allows it to take up to 50% of an inherited IRA. Beneficiaries of the IRA may be required to take RMDs that the original owner of the retirement account had been taking. Because inherited IRAs...
Inheriting Your Spouse's IRA? Don't Stretch, You Might Have Better Options: Spouses inheriting an IRA have unique benefits compared to other beneficiaries. You may not need the "stretch IRA" strategy because you can: Delay required minimum distributions (RMDs): Wait until the deceased spouse's age...
If the current custodian or investment choices of your inherited IRA don't align with your vision, you have the freedom to transfer it to a new provider where opportunities bloom. Remember, the magic lies in a direct transfer, ensuring the legacy continues under the banner of an inherited IRA. No...
