Skip to main content

What happens when a spouse inherits an IRA?


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
https://inflationprotection.org/what-happens-when-a-spouse-inherits-an-ira/?feed_id=38270&_unique_id=636de53017f7a #Inflation #Retirement #GoldIRA #Wealth #Investing #FederalIncomeTaxes #IndividualRetirementArrangements #inheritedira #IRAs #requiredminimumdistributions #rmds #InheritedIRA #FederalIncomeTaxes #IndividualRetirementArrangements #inheritedira #IRAs #requiredminimumdistributions #rmds

Comments

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'