There are a few options you can consider when you inherit an IRA from your spouse.
The best option will depend upon a variety of factors and the relevant rules and decision points can be confusing.
To help make the analysis easier, we have created the “Should I Inherit My Deceased Spouse’s IRA?” flowchart. It addresses common issues that arise when you inherit a traditional IRA from a spouse:
- Inheriting the IRA vs. rolling the IRA into the investor’s own traditional IRA
- 10-Year Rule vs. Life Expectancy Rule
- RMD calculations
- Considerations based on age and income needs