Permalink Submitted by Alan Spross on Thu, 2009-03-05 00:30
In most cases, yes. Were you named on her IRA as beneficiary, or was her estate or trust the named beneficiary? Was she receiving RMDs at the time of her death?
Permalink Submitted by Alan Spross on Thu, 2009-03-05 19:32
You can rollover all or part of the IRA into your own IRA. However, if you are not yet 59.5 and will need distributions from your IRA you are subject to the early withdrawal penalty. But if you take distributions from the inherited IRA, there is no penalty. Therefore, if this is a concern, you might keep some funds in the inherited IRA until you reach 59.5.
Permalink Submitted by Alan Spross on Thu, 2009-03-05 00:30
In most cases, yes. Were you named on her IRA as beneficiary, or was her estate or trust the named beneficiary? Was she receiving RMDs at the time of her death?
Permalink Submitted by Rick Tenison on Thu, 2009-03-05 16:03
I was beneficiary. She was only 58 when she died so she didn’t have to take distributions.
Permalink Submitted by Alan Spross on Thu, 2009-03-05 19:32
You can rollover all or part of the IRA into your own IRA. However, if you are not yet 59.5 and will need distributions from your IRA you are subject to the early withdrawal penalty. But if you take distributions from the inherited IRA, there is no penalty. Therefore, if this is a concern, you might keep some funds in the inherited IRA until you reach 59.5.