At The Wealth Cafe, we’ve noticed that there is an underlying assumption that inheriting a retirement account is simple, but changes to certain rules have made it a little more complex than most people realize. Since post-pandemic AKA 2020, someone who inherits a non-spousal IRA needs to be aware of important tax rules and distribution requirements that come with it. In this episode, we’ll be breaking it all down, so you and your loved ones better understand these rules, as well as avoid costly tax mistakes.

What we’ll cover:

✅ What the 10-year rule really is.

✅ Differences between Traditional vs. Roth inherited IRAs.

✅ How inherited IRA withdrawals can affect tax brackets and income.

✅ Planning strategies to reduce taxes for future generations.

We’ve seen a lot of instances where beneficiaries inherit IRAs during peak earning years and then due to withdrawals end up unknowingly increasing taxable income, pushing themselves into a higher tax bracket, and negatively impacting things like financial aid eligibility. So, as we always say, we’d recommend working with your financial team and planning early, so that you can implement strategies that can help preserve more of your wealth for future generations.

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