20 year old inherits an IRA annuity from her (50 yo) parent who passed away.
The goal is to have these funds remain tax deferred as long as possible (taking whatever distributions are needed or liquidating over 10 years).
Annuity claim paperwork indicates options:
Lump sum
Annuitization options
Transfer to inherited IRA annuity with same carrier
Transfer to inherited IRA annuity with a different carrier
Is there a way to accomplish what they are trying to do, or is their best bet going to be a low cost Fidelity annuity or similar?
I called the carrier for general info and rep was not helpful, claims doesn't take phone calls, and no Advanced Markets.
The goal is to have these funds remain tax deferred as long as possible (taking whatever distributions are needed or liquidating over 10 years).
Annuity claim paperwork indicates options:
Lump sum
Annuitization options
Transfer to inherited IRA annuity with same carrier
Transfer to inherited IRA annuity with a different carrier
Is there a way to accomplish what they are trying to do, or is their best bet going to be a low cost Fidelity annuity or similar?
I called the carrier for general info and rep was not helpful, claims doesn't take phone calls, and no Advanced Markets.