Getting Your Financial Ducks In A Row Rotating Header Image

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  1. […] First, let’s run through the specifics that make up a stretch IRA.  When an IRA account owner dies, the beneficiary(s) are eligible to re-title (or transfer) the account(s) as inherited IRAs in the name of the deceased owner. At that point the beneficiary(s) must begin taking Required Minimum Distributions based upon the beneficiary’s age. This is much better (tax-wise) than having to take the entire sum all at once and pay tax on it, or the onerous five-year distribution rule that can come into effect if things aren’t done properly. (more on the specifics of the Stretch IRA can be found in this article.) […]

  2. […] First, let’s run through the specifics that make up a stretch IRA.  When an IRA account owner dies, the beneficiary(s) are eligible to re-title (or transfer) the account(s) as inherited IRAs in the name of the deceased owner. At that point the beneficiary(s) must begin taking Required Minimum Distributions based upon the beneficiary’s age. This is much better (tax-wise) than having to take the entire sum all at once and pay tax on it, or the onerous five-year distribution rule that can come into effect if things aren’t done properly. (more on the specifics of the Stretch IRA can be found in this article.) […]

  3. […] Stretch IRA – A Legacy in the Making from Jim Blankenship […]

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