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Zimmer Law Firm

Estate Planning & Elder Law Attorneys

513.721.1513
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  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • Communities We Serve
      • Butler County
        • Fairfield
        • Hamilton
        • West Chester
      • Clermont County
        • Milford
      • Hamilton County
        • Blue Ash
        • Cincinnati
        • Loveland
        • Montgomery
        • Sharonville
      • Warren County
        • Mason
    • Our Client Care Program
  • Services
    • Estate Planning
    • Incapacity Planning
    • IRA Inheritance Planning
    • Legacy Wealth Planning
    • LGBTQ Estate Planning
    • Medicaid Planning and Elder Law
    • SECURE Act Impacts
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Adult Legal Protection Plan
  • Live Events
    • Webinars
  • Resources
    • DocuBank
    • Ohio Elder Law Resources
      • Blue Ash
      • Cincinnati
      • Elder Law & Medicaid Definitions
      • Fairfield
      • Hamilton
      • Loveland
      • Montgomery
      • Sharonville
      • West Chester
    • Estate Planning Resources
      • Estate & Gift Tax Figures
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Free Estate Planning Checklist
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Legacy Planning Definitions
      • Top 10 Estate Planning Techniques
    • FAQs
    • Pre Consultation Form
    • Probate Resources
      • Blue Ash
      • Cincinnati
      • Hamilton
      • Loveland
      • Mason
      • Milford
      • Probate Checklist
      • Sharonville
      • Trust Administration & Probate Definitions
      • West Chester
    • Presentations
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Home FAQs What are the rules for a beneficiary that inherits an individual retirement account?

What are the rules for a beneficiary that inherits an individual retirement account?

The core tax situation is the same as it would be for the original account holder. The beneficiary of a traditional account would have to pay taxes on the income, but this is not the case for a Roth beneficiary.

When the SECURE Act became law in December of 2019, a major change was implemented that is not positive from an estate planning perspective. As it stands now, a non-spouse beneficiary of an IRA must take ownership of all assets in the account within 10 years of the passing of the original account holder.

Previously, the beneficiary could stretch out the payments over any length of time, and this approach provided significant tax benefits.

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