Financial Planning, Wealth & Tax Advisory

Inherited IRA Rules: Non-Spouse and Spouse Beneficiaries

The rules guiding the inheritance of an individual retirement account (IRA) when the IRA owner dies are complicated, but at least one aspect is straightforward: Whether a spouse or non-spouse is named the beneficiary of the account when the IRA owner dies, the current tax law allows the inheritance, or the total sum in the account, to be accepted tax-free.