How Do Inherited IRA's Work For Non-Spouse Beneficiaries?
The SECURE Act was signed into law on December 19, 2019 which completely changed the distribution options that are available to non-spouse beneficiaries. One of the major changes was the elimination of the “stretch provision” which previously allowed non-spouse beneficiaries to rollover the balance into their own inherited IRA and then take small required minimum distributions over their lifetime.
That popular option was replaced with the new 10 Year Rule which will apply to most non-spouse beneficiaries that inherit IRA’s and other types of retirements account after December 31, 2019.
New Rules For Non-Spouse Beneficiaries Years 2020+
The article and Youtube video listed below will provide you with information on:
New distribution options available to non-spouse beneficiaries
The new 10 Year Rule
Beneficiaries that are grandfathered in under the old rules
SECURE Act changes
Old rules vs New rules
New tax strategies for non-spouse beneficiaries
About Michael……...
Hi, I’m Michael Ruger. I’m the managing partner of Greenbush Financial Group and the creator of the nationally recognized Money Smart Board blog . I created the blog because there are a lot of events in life that require important financial decisions. The goal is to help our readers avoid big financial missteps, discover financial solutions that they were not aware of, and to optimize their financial future.