What happens when you inherit an IRA?
When you inherit an IRA account from a loved one, it can come with both advantages and obligations. Knowing what to do next can help you maximize your inheritance. Also, understanding the applicable fees and taxes associated with it can help you avoid costly surprises further down the line. Do beneficiaries pay tax when they […]
Warning: Inherited Retirement Accounts Are Vulnerable to Creditors
Spouses receive special treatment when inheriting a retirement account such as an IRA (for example, the ability to roll over the account into a personal retirement account and to stretch the distributions over their lifetime). However, the inherited retirement accounts you leave for your spouse can still be seized in a divorce, a lawsuit, or […]
