Financial Advisor Insights

What to do after inheriting a retirement account from a parent or relative

If you have just inherited a traditional IRA, SEP IRA, Roth IRA, 401(k) or 403(b) plan from a parent, sibling, or relative, you may be unsure about what your options are and what to do next. As a non-spouse beneficiary, you will need to begin taking distributions from the account. The timing of the distributions and what flexibility you may have will depend on the age of the deceased and whether you inherited the account alone or with other beneficiaries. For more information on what to do after receiving an inheritance, contact us today to schedule a consultation.

Understanding your options after inheriting a retirement account from a parent, grandparent, sibling, or relative (INFOGRAPHIC)

New Call-to-action

Popular Articles

Boston Wealth Management