Inherited IRA's are complicated and there are tax penalties if you don't handle them the right way. Here's an introduction to how Inherited Retirement Accounts are treated and how you should handle them. If you have any questions here, I highly recommend talking to a professional.... ( read more )
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An inherited IRA is a retirement account that is passed on to a beneficiary upon the death of the original account holder. It is a great way to ensure that your retirement savings are preserved and passed on to your loved ones. Inherited IRA’s are typically set up by the beneficiary of the deceased’s estate. The beneficiary then becomes the new account holder and is responsible for managing the account. The account holder must also follow certain rules and regulations set forth by the IRS. The first rule
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