Happy family holding cash outside their home, symbolizing receiving a financial windfall and learning how to manage it wisely.

Imagine this. You inherit a quarter-million dollars, $250,000, while juggling two kids, $3,000 daycare bills, and a baby due in January. That was the reality for a couple I met with last week. They weren’t popping champagne or shopping for new cars. They were asking a different kind of question:

There has been some confusion on whether or not there is a required minimum distribution each year of an Inherited IRA, or if it just had to be withdrawn over 10 years. That question has now been answered, and we have put together information below to help you with that.