What nonspouse beneficiaries need to know about Roth IRAs

10/23/2011 | Wealth Management Insider

With Roth IRA conversion income limits waived, the investment tools could become more popular, raising the odds that clients will become beneficiaries. Advisers should educate themselves about the rules for nonspouse beneficiaries of Roth IRA accounts, writes Jennifer Sicking, CPA/PFS. The accounts allow for significant wealth accumulation and offer tremendous potential as an estate planning tool. However, beneficiaries should note important deadlines and distribution requirements as well as tax implications.

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