O'Reilly logo

The Complete Idiot's Guide® To Protecting Your 401(k) and IRA by Bill Lane, Jennifer Lane

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Step One: Stop and Think

You should always avoid making quick decisions when it comes to your finances, but especially if you inherit a retirement account. If you plan with care, you can continue to take advantage of the tax-benefited growth in the account that the owner started. Penalties for making a mistake with a distribution can be steep. So it’s important to watch for four important deadlines: the nine-month anniversary of the account owner’s death, December 31 of the year the account owner died, and October 31 and December 31 of the following year. Keep an eye toward these important dates, and be sure to spend time you need gathering all the information about your options and getting good advice before executing your plan.

Immediate ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required