Timothy Sumer

Lump Sum option description in detail... ( 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 Inheriting IRAs Lump Sum: A Guide to Understanding the Process Inheriting an Individual retirement account (IRA) can be a significant financial benefit for individuals who find themselves as beneficiaries. The distribution options for inherited IRAs can vary, and one of the options available is to receive the funds as a lump sum. In this article, we will discuss what it means to inherit an IRA lump sum and the key factors to consider when making this decision. First and foremost, let's clarify what an IRA is. It is a tax-advantaged retirement savings account in which individuals can contribute money each year. The contributions and earnings within the account grow tax-deferred until withdrawals are made during retirement. However, when the original ac...

Why would you ever turn away an inheritance? Roger explains why anyone would consider disclaiming an IRA... ( 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 Disclaiming IRAs: What Does It Mean? Individual retirement accounts (IRAs) are popular tools that can help you save money for your retirement. However, sometimes, you may receive an IRA as an inheritance. If you find yourself in such a situation, and you don't want the IRA or believe that it's not a good fit for you, you can disclaim it. Disclaiming an IRA means you're forfeiting the right to inherit it. In other words, you are saying "no, thank you" to the IRA. Once you disclaim an IRA, it goes to the secondary beneficiary, as specified in the original IRA document. Alternatively, if there are no secondary beneficiaries or if they too disclaim the IRA, the money goes...