Inheriting an IRA? Don’t Act too Quickly!

When you inherit a loved one’s retirement account, oftentimes you not only need to consider how to invest the money, but also potential tax ramifications of any acts you take, or fail to take, regarding the monies.  Although you should always speak with your financial advisor and/or accountant before making any final decisions regarding how to handle the inherited monies, there are some general guidelines about which you should be aware.  Being knowledgeable about the general options available to you may prevent you from the numerous pitfalls out there, including required minimum distributions, lifetime stretch-out, and the possibility of postponing distributions.

To learn more about the pitfalls and possibilities surrounding inherited qualified retirement accounts, read this.

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