What Can You Do with an Inherited IRA? скачать в хорошем качестве

What Can You Do with an Inherited IRA?

(818) 708-6888 [email protected] If you’ve become the beneficiary of an IRA or other retirement account, it’s important to know your options. You can take the money out in one lump sum. This requires opening an account called an Inherited IRA in your name for correct IRS reporting. That lump sum may be taxable depending on whether the original contributions were pre- or post-tax. Or you can open an Inherited IRA and leave it alone to grow tax deferred. You can't make additional contributions and must start taking Required Minimum Distributions based on when the deceased would have turned 73. You must also liquidate the account in ten years. With this option, you can name your own beneficiary to pass it on. If your spouse left you the account, you’re allowed to roll those assets into your own retirement account and follow your account’s distribution rules. You could also disclaim the account, or not accept it. The assets can then pass on to alternate beneficiaries. If you disclaim, it must be done before taking possession of the account, and within nine months of the original owner’s death. To learn more about what to do with an inherited retirement account, please give us a call today.    • What Can You Do with an Inherited IRA?   This material is intended for informational purposes only and does not constitute specific legal, tax, or other professional advice. Asset allocation may help spread risk, but it does not protect against loss of principal due to market fluctuations. Investment advisory services are offered through Planned Asset Management (PAM), a registered investment adviser. Securities are offered through M.S. Howells & Co., a registered broker/dealer. Member FINRA/SIPC. This site is published for residents of the United States only. Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Not all products and services referenced on this site are available in every state and through every representative or advisor. M.S. Howells & Co. & Planned Asset Management (PAM) are not affiliated entities. For additional information, please contact [email protected]. Check the background of the firm or investment professional on BROKER CHECK or ADVISER CHECK.