I read an informative MarketWatch article regarding "what to do if you inherit your spouse’s IRA" by Bill Bischoff and thought I’d share it.
The article mentions that you could have huge tax implications by doing the wrong thing with your inherited IRA. You should NOT just sit on your hands. Because if you fail to withdraw at least the required minimum amount from your inherited IRA, you will be charged a penalty equal to 50% of the shortfall! It is very important to pay attention and read his article to learn how to calculate required minimum withdrawals from an IRA you inherited from your spouse.
Click on web link below to read the entire article:
http://www.marketwatch.com/story/what-to-do-if-you-inherit-your-spouses-ira-2015-03-18