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Navigating Inherited Assets: A Guide for Beneficiaries (ep 27)

On this episode of “Tell Your Boss I Quit,” Peter Gutekunst CFP, CLU, CRPS discusses the key differences in rules for inherited IRAs between spouses and non-spouses. He explains how spouses can roll over an inherited IRA to make it their own, while non-spouses would need to move it into an inherited IRA. Pete breaks down the tax implications and benefits of using an inherited IRA versus taking out the funds all at once. Tune in to learn more about managing inherited IRAs and financial planning for the future.

If you feel like anything you heard in this episode resonated with you, feel free to head to www.GuteFinancial.com and let’s start a conversation.






The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing materials accurate or complete. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Any opinions are those of Peter Gutekunst, and not
necessarily those of Raymond James. Unless certain criteria are met, Roth IRA owners must be 59½ or older and have held the IRA for five years before tax free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year
holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion. Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person’s
situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.