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Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.

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  1. All Episodes
  2. How Should I Handle an Inherited IRA?

How Should I Handle an Inherited IRA?

Aug 18, 2023

We’re in the middle of one of the largest wealth transfers in our country’s history as Baby Boomers pass on their estate to loved ones, and some of that money is coming in the form of an IRA. Rules regarding inherited IRAs have changed in the past few years so let’s take a few minutes to tell you what you need to do if you receive one.

 

Here’s what you can expect to learn in this episode:

  • Certain people are able to take over the account as their own without any rules.
  • For most people, you are going to have 10 years to withdraw all the money in the inherited IRA.
  • Why tax planning becomes so important for those receiving the inheritance.
  • How have the rules changed on inherited IRAs in the past few years?

 

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