Married people usually name their spouses as the beneficiary of their IRAs. so what happens when the surviving spouse actually inherits the IRA. Surviving spouses have options that non-spouse beneficiaries do not have, especially when it comes to taking Required Minimum Distributions.

This video explains those options and gives guidance as to what is beneficial in what circumstances.

0:00 Introduction
0:57 Assumptions and terminology
1:52 SECURE Act changes
2:10 Options for surviving spouses
3:38 How the options work, using examples.
5:56 Conclusion

Watch this video to learn about Required Minimum Distributions:

This video is an overview of IRA Distributions in general:

This video explains rollovers:

Resources and Additional Information:

IRS Publication 590-B: “Distributions from Individual Retirement Arrangements” (contains the life expectancy tables shown in the video):

Bankrate.com: “Inherited IRA rules: 7 things all beneficiaries must know”:

Kiplinger.com: “When a Spouse Inherits an IRA”:

Kiplinger.com: “The Basics of Required Minimum Distributions: 12 Things You Must Know About RMDs”:

The Tax Geek on Twitter: @taxgeekusa

Image Sources:

Storyblocks.com
Pexels.com

The images of “Frank,” “Lucille,” “Phyllis,” “Lawrence,” and “Stanley,” were generated by thispersondoesnotexist.com and any resemblance between these images and any person, living or dead, is coincidental and not intentional.

Intro Music: “Bluesy Vibes” – Doug Maxwell – YouTube Audio Library

Outro Music: “Modern Attempt” – Track Tribe via YouTube Audio Library

DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional.

The information in this video is current as of date of publication, and is subject to changes….(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