Inherited an IRA? Here's What You Need to Know
The rules surrounding an inherited IRA are a bit more complicated than the ones you run into when you open and fund your own account, and which ones will apply largely depend on what category of beneficiary you fall into: spouse, child or non-spouse, or an entity like an estate or charity. Each of these groups has its own set of rules about taxation and withdrawals. If you inherited an IRA, here's what you should know.
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Inheriting an IRA from a spouse is the simplest of the three scenarios. As their widow or widower, you can either retitle the IRA into your name or roll the money in it over into a new IRA.
Source Fool.com
