Inheriting an IRA divides you into two groups: a non-spouse or a surviving spouse. The rules and options for what to do with an IRA you inherit are different for each group.
A surviving spouse who inherits an IRA has a lot of flexibility in deciding what to do with the account. Proper planning and knowing your options can help you establish lifetime income opportunities, avoid paying higher taxes or penalties, and create a lasting legacy for your beneficiaries.