Leaving an IRA to loved ones can be an excellent way to transfer assets in a tax-advantaged manner, but many people who inherit an IRA aren't sure of the next steps. In this video, Certified Financial Planner® Matt Frankel gives an overview of the rules you should know.
When do you have to take out the money? What are the tax implications?
About the Author
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst and personal finance expert covering financial stocks, REITs, SPACs, and personal finance. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, The National Desk, and other TV networks and publications for his financial, stock market, and investing expertise.