Chat with us, powered by LiveChat

This week’s Ask Annex comes from Lois, who asks:

“I have inherited an estate with a IRA in which I have 10 years to liquify. I am also executor of the will in which I need to give out some money, I want to divide the bulk of the IRA to my children and I need advice on how best to do that, considering taxes, etc.”

This week’s Ask Annex response was prepared by our guest editor, Mike Mihm. Mike wrote back:

Hi Lois, thanks for your question. As you know, I reached out to you on the phone get some more background before I worked on your response. Since there are a lot of moving parts here and in discussing this with our Estate Planning attorney, we thought it would be best to have a conversation with you and ask some follow up questions.

Your options will depend on where you are in the process with the IRA. For example, have you already established an Inherited/Beneficiary IRA for your benefit or is that something that you’re currently evaluating?

If the IRA for your benefit has already been established, then an option may be to do some gifting from the distributions to your children. If the Inherited/Beneficiary IRA has not been established yet, then there may be some options for disclaiming it to have the funds go to your children.

Do you have a question for Annex Wealth Management? Fill out the form below to submit your question:




  • By filling out this form you agree and consent to receive electronic communications, agreements, documents, notices and disclosures (collectively, “Communications”) that Annex Wealth Management, LLC is required by law to provide to you in writing. You are authorizing us to use your first name* only and question on air if we choose. *We will never mention your full name, first and last, on air, and we will never sell or share your information with anyone else.

Sign Up For the Axiom

7 Weekly Wealth
Management Insights

Sign Up For the Axiom

7 Weekly Wealth
Management Insights

Contact Us

Annex Wealth Management
12700 W. Bluemound Rd.
Suite 200
Elm Grove, WI 53122

Call: (262) 786-6363
Fax: (262) 792-8930

Search
Generic filters
Exact matches only

This site has been published for residents of: AZ, CA, CO, FL, GA, IA, IL, IN, KS, KY, MA, MI, MN, MO, NH, NV, NY, NC, OH, SC, SD, TN, TX, UT, VA, WA & WI ONLY. By entering you certify you are a resident of one of those states. All information herein has been prepared solely for information purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any security.