Inheriting an IRA? Advisors warn these 3 costly mistakes could drain far more of your windfall than you expect

We’re in the midst of a great wealth transfer, but if you’re inheriting an IRA there are a few common mistakes that could drain your windfall. By 2048, boomers and the Silent Generation are expected to transfer $124 trillion, according to Cerulli Associates’ U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2024 report. (1) Of that, charities are expected to receive about $18 trillion while Gen X and millennial heirs will receive the remaining $105 trillion. Along the way, $54 trillion will be passe ...