Yesterday on Mastering Money, we reviewed what are known as non-spouse inherited IRAs. We learned that the rules for IRAs left to a brother, sister, niece, nephew, or other non-spouse have very specific rules that must be followed to a “T” by the beneficiary. Today, we’ll review the many choices that a surviving spouse has when inheriting an IRA, including whether or not to take over the IRA herself or to remain a beneficiary, and three key strategies for making sure your surviving spouse is well taken care of, even without buying any life insurance. You’ve got questions, we’ve got answers–MASTERING MONEY IS ON THE AIR!
