In the context of a surviving spouse, a rollover IRA is an IRA that your surviving spouse has inherited from you and rolled over into his or her own IRA or a new IRA in your surviving spouse's name. Once the IRA has been rolled over, your spouse owns the assets of the IRA, has complete control of the assets, and is free to dispose of those assets as he or she sees fit. The surviving spouse is the only person that has that option.
Excerpt from The Complete Guide to Estate and Financial Planning in Turbulent Times (Collaborative Press, 2011) - Walt Dallas, Contributing Author
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