Inherited IRA Guidance
You inherited an IRA. The rules changed, and the clock is running.
It’s a hard time to be making financial decisions. Some of these can’t be undone. Let’s sort out what has to happen first, together.
What this is
Most non-spouse heirs now have ten years.
Since the SECURE Act, most people who inherit an IRA from someone other than a spouse have to empty it within ten years — and in many cases take a minimum amount each year along the way. Spouses, minor children, and a few other groups have different rules. Get it wrong and the penalty is steep; cash it all out in one year and the tax bill can be worse.
The first moves — retitling the account, not rolling it into your own IRA, and deciding on a withdrawal rhythm — set up everything after. We’ll walk you through them.
This is for you if
- You’ve been told you’re the beneficiary of an IRA or 401(k)
- You’re a spouse deciding whether to treat it as your own
- You’ve inherited an account and haven’t touched it yet
- You want the tax spread out instead of taken all at once
What we’ll walk through
Which rules apply to you
Spouse, non-spouse, minor child, or a trust — each has a different clock.
The first 90 days
Retitle correctly, avoid the rollover mistake, pick a beneficiary of your own.
A withdrawal plan
Spread the tax across the years that make sense for your income — not the IRS’s default.
Guide
Inherited IRA: what to do in the first 90 days
The rules, the exceptions, and the mistakes that can’t be undone. Short and specific.
Questions people ask us
Can I just roll it into my own IRA?
Only if you’re the spouse. Anyone else has to keep it as an inherited IRA in the original owner’s name. Rolling it into your own account is a mistake that can’t be reversed.
Do I have to take money out every year?
Often, yes — if the original owner had already started required distributions. Either way, the account generally has to be empty by the end of year ten.
What if I inherited a Roth IRA?
The ten-year rule usually still applies, but qualified withdrawals generally aren’t taxed, so the timing question is different. Worth a conversation.
Related
Retirement Planning
Fitting it into your own plan.
401(k) Guidance & Rollovers
If it’s a 401(k) you inherited.
Retirement Income & Annuities
What to do with the withdrawals.
Someone in your corner.
A conversation costs nothing and commits you to nothing. Bring your statements, your questions, or just a hunch that something could be working better.
Or call 270.438.2611 — a person answers.
This page is educational. It uses simplified examples and is not a recommendation for your specific situation. Numbers used in examples across the site are illustrations, not projections of what you’ll experience.
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Studle Financial Services provides financial guidance and insurance products to families and businesses in Kentucky and Tennessee. Information on this website is for educational purposes and is not individualized advice. Your situation is unique — please talk with a licensed professional before making financial decisions.
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