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You can transfer assets into an inherited IRA in your name and choose to take distributions over 10 years. You must liquidate the account by Dec. 31 of the year that is 10 years after the original ...
Continue reading → The post Minor Child as IRA Beneficiary: Requirements appeared first on SmartAsset Blog. ... Can You Name a Child As Your IRA Beneficiary? Bob Haegele. August 6, 2022 at 6:00 ...
Naming a beneficiary ensures that your assets go to the people who you want to have them. If you don’t name a beneficiary, a court may end up directing assets to where it sees fit. You avoid ...
You can name a beneficiary or multiple beneficiaries to receive the income from … Continue reading → The post Estate as Beneficiary of IRA appeared first on SmartAsset Blog.
It may sound like it makes sense, and it might be easier than picking a person (or two) to name, however there are some serious downsides to naming your estate as the beneficiary for your IRA.
They can treat the inherited IRA as their own, or take distributions based on their life expectancy. These new rules do not apply to accounts inherited before 2020, or to Roth IRAs. This story was ...