How to handle an inherited IRA

Q.: Hello Dan, when I inherited several traditional IRAs from my husband, I chose to place them into inherited IRAs. My husband and I were both born in the same year. I’m currently under 59½. Is there any penalty or rules against transferring these inherited IRA or BDA accounts into IRAs under my name now or a few years down the line? What about an Inherited Roth IRA?

A.: My condolences for your loss.

There is no rule prohibiting a surviving spouse from rolling their deceased spouse’s IRA into the survivor’s IRA or into an inherited IRA and then into the survivor’s personal IRA.

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