You Inherited an IRA. Now What? Advice From a Portland, Oregon Estate Attorney
If you recently inherited an IRA or 401(k), the most important thing to know is that most non-spouse beneficiaries must withdraw the entire account within 5 or 10 years, and the choices you make in the first weeks can affect how much of the money you actually keep. The inherited IRA rules changed significantly in recent years, and the old advice about stretching withdrawals over your lifetime no longer applies to most people.
Understanding the New Inherited IRA Rules: A Portland, Oregon Estate Planning Lawyer's Perspective
Inheriting an IRA can be a significant financial event, and recent changes to the IRS rules make it crucial for beneficiaries to understand their obligations. Whether you're in Portland, Oregon or elsewhere, these new regulations could significantly impact your inheritance. As a Portland, Oregon estate planning lawyer, I'll break down the key changes and how they could affect your financial planning.