My husband passed in May. He was 74. I am 72.
He had two IRAs. One was the standard and one a Roth.
He handled all the finances in our marriage and I’m more than a bit lost.
My brother says I have to be careful with the IRAs because they were not mine – I inherited them.
What are these rules I have to follow?
How can I make sure I’m not messing things up?
I am so sorry for your loss. Your husband was a young man. I’m sure this has been a difficult time. Most widows find it takes them about one year after losing their husband before they feel back to being themselves. Take your time and be patient with yourself.
While your brother means well, his advice is not helpful. In reality, when a spouse (you) inherits IRAs (Roth or Standard) from their spouse (your husband) they may take over the accounts as is if they were always theirs.
In other words, you have nothing to worry about.
Be sure to consult with a trusted advisor to clean up the paperwork.
But again, you have nothing to worry about.
If you have questions or comments, please send them to Gene@AskMtM.com