IRA expert Ed Slott and his staff revisit locations around the U.S. presenting two-day seminars covering the most important ...

The problem is “later” is usually too late, because most people never review their beneficiary forms. The SECURE Act has eliminated the “stretch” IRA for most beneficiaries and replaced it ...

they don’t update forms and cause all kinds of legal entanglement.” 6. Improperly drafted trusts can be bad news It is possible to list a trust as a primary beneficiary of an IRA. It is also ...

So, it doesn’t affect you. You still have RMDs, your stretch IRA, that extended payout, if you were a designated beneficiary, meaning named on the beneficiary form. However, if you inherited in ...

Rick’s Tip: Since a beneficiary form can supersede your wishes in your ... In fact, the assets in Mortimer’s Roth IRA used to live in his traditional IRA. Years ago, he worked with his ...

Contingent beneficiaries inherit the IRA if the primary ... So, if you made post- or after-tax contributions to a traditional IRA, file Form 8606 to account for that contribution.

Inheriting a Roth IRA avoids probate if the deceased listed you as a beneficiary. Spouses inheriting Roth IRAs can treat them as their own; others face a 10-year withdrawal limit. Non-spousal ...

You are a designated beneficiary who inherited an IRA in 2020, 2021 ... except that the five years is increased to 10 years. No Form 5329 and No Further Action Required for Automatic Waivers ...

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The SECURE Act, which became effective at the beginning of 2020, eliminated the "stretch IRA," with the exception of some beneficiaries. However, the IRS is mulling over key provisions particular ...

While spouses can simply take over inherited IRAs as their own, other beneficiaries, such as children of the deceased, cannot. Rather, money that is inherited from a parental IRA must instead ...