Inherited IRA
I am the beneficiary of my aunts IRA she passed this month. I am 67 yrs of age and would like to know what the best options would be for me at the time. I don’t need the cash right now. Let me know what u think. Thanks
Terry Says
Where is the IRA being held? Contact them and if it is not at Fidelity or Vanguard, you’ll want to “roll” it directly into an inherited IRA with Fidelity or Vanguard. If you contqact them (800-FIDELITY or 800 VANGUARD — ask for IRA rollover help) they will handle all the paperwork for you. Then you can continue to let the money grow tax-deferred for a number of years (which depends partly on whether your aunt had started taking required withdrawals).
Do NOT take a check. Handle this as a direct rollover. They will contact the current custodian of the IRA of the deceased.
