Financial Advisor Insights

Want to Leave Your Kids an Inheritance? They May Only Have 10 Years to Take it.

This article was originally written by Kristin McKenna, CFP® and published by Forbes.

The Secure Act, which was signed into law in December 2019, brings about several major changes to the retirement system. One such shift marks the end of so-called “stretch IRAs” for non-spouse beneficiaries who inherit a retirement account after 2019. Although there are a couple of exceptions, starting in 2020, most adult children inheriting an IRA or other type of retirement account from a parent will only have 10 years to drain the account.

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