Extended IRA

What is Extended IRA?

Extended IRA meaning in finance terminology / glossary / dictionary is:
An extended IRA is a tax-advantaged retirement account that can be passed on to two generations of beneficiaries. If an original IRA accountholder dies while there are still assets in the account, those assets are passed on to the designated beneficiary, who’s called the first-generation beneficiary. With an extended IRA, the first-generation beneficiary can distribute the assets until his death, and pass what’s left to someone else, called the second-generation beneficiary.

 

reference: MortgageLoan.com

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