Why would you ever turn away an inheritance? Roger explains why anyone would consider disclaiming an IRA... ( read more )
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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
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