The SECURE Acts greatly changed the rules for Inherited IRAs unless you’re a spouse. Spousal beneficiaries have the most flexibility when inheriting an IRA. They can treat it like their own and roll it into their IRA, where the funds continue growing until the surviving spouse reaches 73, when they will start required minimum distributions.
If the surviving spouse is older, they can act as the beneficiary of the Inherited IRA and delay RMDs until the original owner reaches age 73, again allowing the funds to continue to grow. If the original owner was already receiving RMDs, the spousal beneficiary can continue taking RMDs based on the original owner’s life expectancy, or they may submit a new RMD schedule based on their life expectancy.
The Gwinnett Daily Post is a daily newspaper published in Gwinnett County, Georgia, and serves as the county's legal organ. The newspaper is owned by Times-Journal Inc. and prints Wednesday and Sunday each week.