Reported about 17 hours ago
When inheriting retirement accounts, such as IRAs and Roth IRAs, it's crucial to understand the rules surrounding required minimum distributions (RMDs). The RMD obligations depend largely on the relationship to the deceased and the type of account. Spouses can often treat inherited accounts as their own, delaying RMDs until age 73, while non-married partners face stricter rules, such as the 10-year distribution requirement. To maximize the benefits of these accounts and minimize tax liabilities, careful planning and possibly professional financial advice are essential.
Source: YAHOO