related advice piece @

artappraiser — Sun, 29 Dec 2019 00:06:39 +0000

In reply to The Secure Act changes the way people will inherit money — are you affected by the new rules?

related advice piece @ Marketwatch by same, also from today: Inheriting a parent’s IRA or 401(k)? Here’s how the Secure Act could create a disaster

Beneficiaries and account holders should review any documents about inheriting an IRA or 401(k) now

Beneficiaries of individual retirement accounts may not see their inheritances for a decade under the newly passed Secure Act, and when they do get the money, they may be taxed heavily for it.

Under the new retirement legislation, which was signed into law just days before Christmas, beneficiaries of inherited IRAs will need to withdraw that money within 10 years — that is, if they have access to it at all within that time.

Previously, nonspousal beneficiaries could opt to take only [....]

dagblog - Comments for "The Secure Act changes the way people will inherit money — are you affected by the new rules?"

related advice piece @