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How to Opt Out of Inheriting an IRA
Expert Opinion February 08, 2024 at 02:13 PM
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What You Need To Know
- The rules governing inherited IRAs have become much more complex since the passage of the original Secure Act.
- The inheritor of an IRA may be required to empty the account, and pay taxes on the resulting income, in 10 years.
- In some situations, beneficiaries may wish to execute a qualified disclaimer and avoid inheriting the account altogether.
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