Should I Get a Traditional or Roth IRA?
Dear Liz: A relative inherited a 401(k) as a listed beneficiary, and it was simply rolled over into an IRA in her name. Now another family member wants some of the money. The relative keeps trying to explain that if she pulls out any or all of the money, it will be taxed and reduce the amount available if she did want to share it. She is already retired and doesnt need to use the money. She wants to keep it as part of her joint estate with her spouse, who could possibly use it later to pay off their mortgage.