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Are you inheriting an IRA? Here is a quick checklist for you. This list is designed for individuals who inherit as named beneficiaries. Some items will be different for a spouse beneficiary or if an estate or a trust inherits an IRA.

This week's Slott Report Mailbag answers questions about spousal beneficiaries, inherited IRAs and keeping the Stretch IRA provision (biggest benefit in the tax code!) for your heirs and required minimum distributions.  As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.Ed:I have your book, but unfortunately it is at my cabin so I don't have access right now. I am inheriting a Roth IRA from my wife, who recently passed away at 65. It was converted to a Roth in December 2008. First question: Is it better to keep it as a separate Roth IRA, or add it into my existing Roth IRA?

If you don't need all the funds currently in your IRA you might want to "stretch" them. This refers to the process of extending the term of your IRA over multiple lifetimes through the use of existing distribution rules, the power of tax beneficial compounding and sound estate planning techniques.