My dad had a traditional IRA with an investment firm. After he passed, the firm created an IRA in my name as a vehicle to process this account. I am being told that their is an IRS stipulation that says I have 10 years to liquidate (the 10 year rule). I am looking for clarification on this. Also, I was hoping to roll this into my own personal IRA but was told I cannot, because of the 10 year rule. Is there any way around this? I don't understand these limitations imposed on inherited monies.
