Your spouse passes away.

Days later, a letter shows up from the custodian with four options and a deadline - all while you're planning a funeral. One decision at that moment can permanently affect your taxes, sometimes costing tens of thousands of dollars more than it should.

In this episode, I walk you through inherited IRAs and spousal rollovers - what actually happens to a retirement account when it passes from one spouse to another, and the good, the bad, and the ugly of each path.

You’ll also learn:

- Why a surviving spouse gets more flexibility than any other beneficiary in the tax code

- The real difference between a spousal rollover and staying a beneficiary

- The "hybrid" strategy that lets a spouse access funds penalty free now and roll over later

- Why custodians often default you into the wrong choice, and how that single decision can trigger unnecessary taxes and penalties

- The blended-family mistake that can accidentally cut out a deceased spouse's intended beneficiaries

If you're a beneficiary on a spouse's retirement account right now, this episode could save you thousands in taxes and heartache before you sign anything.

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You've built something real.

Let's make sure it stays that way.

I help business owners and high-achieving families build clear, practical financial plans that hold up when life doesn't go according to plan.

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Parallel Financial, LLC is a member firm of The Fiduciary Alliance, LLC, which is a registered investment adviser. More information about Parallel Financial can be found in Form ADV Part 2 which is available upon request. This website is for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security or other investment, or to undertake any investment strategy. Opinions expressed herein are solely those of Parallel Financial, LLC, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.

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