NEW BERLIN, Ill. ( TheStreet) -- The term "stretch IRA" has become a popular way to refer to an IRA that can stretch out the time funds can stay in the IRA after the death of the owner. A stretch IRA is not a special type of IRA under the Internal Revenue Code. Rather, it's a traditional or Roth IRA that gives a beneficiary or contingent beneficiary the option to take distributions from an inherited IRA over the beneficiary's life expectancy. There's nothing magic about this "stretch" capability; any IRA provider can include it.But it can be quite a vehicle, one that can transport users in comfort and style, and it's available for your use if you follow the rules.
|There's nothing magic about the "stretch" IRA, but it can be quite a vehicle -- one that can transport users in comfort and style if they follow the rules.|
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