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    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #1

    Apr 1, 2008, 10:54 AM
    Converting Roth IRA
    This may have already been answered but I don't know where to look -

    My husband had a somewhat small roth IRA. I am the direct beneficiary. I was just told by the stockbroker that I cannot cash this account in. I can only convert it into an account in my name.

    This makes no sense because if I were not the named beneficiary it would have been part of his estate, subject to probate and distributed as directed by Will or the Court.

    I already have an IRA and now they want me to have a second IRA?

    Am I misunderstanding something?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Apr 1, 2008, 11:24 AM
    You should be able to either keep your husband's IRA in tact, or roll it into your own account, and make withdrawals from there per the usual rules. Here are a couple of articles that address issues of inheriting an IRA from a spouse:

    Understanding the Tax Ramifications of an Inherited Roth IRA - InvestorGuide University
    Inherited IRA - Inherited Roth IRA
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