IRA’s have been around for over 40 years, but most investors don’t know what happens when they inherit all or part of an IRA account as a death beneficiary. Taking an
outright distribution of cash as a beneficiary of an IRA upon another’s death is usually a foolish idea.
While spouses have generous options available when named as beneficiaries of IRA’s, things get trickier for
IRA non-spousal beneficiary and multiple beneficiaries of an IRA of a deceased individual. Properly
titling an inherited IRA account is essential in order to assure its continued tax deferred
status and to avoid a punitive tax situation.
We offer a free initial consultation to investors who have sustained unnecessary losses due to
improperly advised IRA account inheritances. For a free initial consultation contact the Law
Offices of Timothy J. O’Connor at (518) 426-7700.
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