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Greetings, Nandina, and welcome. You wrote:

<<I inherited a rollover IRA (husband got lumpsum when retired early at 48)I left IRA in husband's name in decedent account so as to take monies if needed without penalty. My question is since I have decided to manage IRA myself and not money mgr. as before, what are rules for buying and selling stocks in this account if there are any and where do you go for legal advice, accountant, other? >>

Please accept my condolences on your loss. I recognize this is a tough time for you. Be assured, though, that you have made a very Foolish decision in keeping the IRA in your husband's name for the time being. As you noted, you may take withdrawals as a surviving spouse from that account without having to worry about any early withdrawal penalty.

As far as managing the money, you may do so just as if it was your husband making those decisions. If the money is in a brokerage account already, you are free to trade as often as you want. However, if it's not and you intend to move the money there, then do so with extreme care. The IRA must be opened in the name of your husband with you as the designated beneficiary. It should be done using a trustee-to-trustee transfer (i.e., the money or check should not come to you for deposit in a new IRA), and the title should be something like "John Doe, Deceased" with you as the beneficiary. This can get sticky as some custodians do not wish to take such accounts even though such transfers are within the law. If you need help in this area, then certainly a good estate planning attorney familiar with IRA law and regulation can help.

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