My father in law was 65 and passed away last year. He had an IRA with Fidelity. My mother in law also has an IRA with Fidelity.
My mother in law is 58 and this year, had my father in laws IRA re-registered as an inherited IRA (as opposed to re-registering it as her own as a spouse can). She did this so she could withdraw funds without a penalty as she is not 59 1/2 yet. By the end if the year she needs to withdraw an RMD of $15,000.
After reviewing her finances, she actually has a comfortable amount of income from other sources and also has non-retirement money to tap into if need be for the foreseeable future.
My question is, can the Inherited IRA be now transferred into or "rolled over" into her own personal IRA to defer the required distribution for next year and beyond until she turns 70 1/2? (2018's RMD will come out and she's fine with that). And if yes, is there anything specifically we need to be aware of in regards to this transaction or transfer?
Any help is much appreciated! Thank you.
Submitted October 26, 2018 at 09:44PM by Shellz1 https://ift.tt/2PYYH3c
