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What do I need to do to converge my late husband’s IRA into mine?

My deceased husband and I each have an IRA with Matrix. Kevin Kelly (Traverse City, MI) is my advisor.

Jul 27, 2018 by Sharon in  |  Flag
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Jean Fullerton Level 1

If you were listed at the sole primary beneficiary on your husband's IRA account you should be able to contact your adviser and/or account custodian and have them send you the forms to rollover his account into yours. If you are over 70.5 note that you will need to take out a larger distribution from your IRA next year, reflecting the higher amount in your combined account.

Comment   |  Flag   |  Jul 30, 2018

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Lonnie D Mclane Level 1

Although this information is correct, you should consult with an advisor to discuss you complete set of options, and if conversion of your spouses account should be maintained seperate and explore your most appropriate action. In addition, discussion of potential tax planning and beneficiary arrangements once title to you should all be considered prior to filing for transfer. Measure twice cut once makes a lot of sense here. Find an experienced advisor to address these issues.

Comment   |  Flag   |  Jun 30, 2019 from Lapeer, MI

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