The assets are transferred into an Inherited IRA held in your name. Money is available: At any time up until 12/31 of the tenth year after the year in which the account holder died, at which point all assets need to be fully distributed. Beneficiaries of traditional Inherited IRAs have flexibility in how they choose to receive distributions. They can elect to take required minimum distributions (RMDs) based on their life expectancy, which can potentially stretch the tax-deferred growth of the assets over many years. For more information visit our official website: https://nyfederalgold.com/

Traditional Inherited IRA Rules

Imagine the first time you ever see an airplane and it crashes into the ocean. Gerry's keepsake is his great-granddad's utility knife, which was gifted to him for saving the life of a world-renowned and revered Australian test pilot, Harry Hawker, in 1913. 

Harry Hawker was the chief test pilot for Sopwith Industries; this was only 11 years after the Wright brothers flew the first-ever successful airplane flight. Harry Hawker and his copilot (mechanic) Harry Cauper (also Australian) were test-flying a biplane over the Bay of Loughshinny in North County Dublin, Ireland, when they crashed into the sea. Gerry's great-granddad, Frank Ryan, was a local fisherman who rowed out and rescued them. 

No one in the community had ever seen an airplane. The next day, when a team tried to salvage the airplane, it was gone, except for one spark plug; the fascinated locals had stripped it for souvenirs.  The local Lord of the Manor, Roger Palmer, gifted Frank a special engraved utility knife for his service. 

Gerry's father handed the utility knife down to him. Gerry's father inherited it from his mother (Gerry's grandmother), who got it from her dad, the hero fisherman.

As part of the State Library of Western Australia's exhibition Keepsake: Cherished Family Mementos from the Collection, we asked The Chin Wagon to create a mini podcast series collecting stories from members of the public about their family treasures and heirlooms. Scrabble boards, cookbooks, medals, fishing lures, trinkets and tools. Why are these items so important to the people that hold onto them?

The Chin Wagon is a mobile recording studio designed to capture WA’s stories. Run by much-loved storytelling collective Barefaced Stories, The Chin Wagon provides a fun, cosy hearth for people to share their most treasured memories, tall tales or embarrassing spills. Andrea Gibbs interviewed seven members of the public in this mini podcast series.

Keepsake exhibition runs at the State Library of Western Australia until 4 February 2025.

Keepsake: Gerry Coleman - Great Granddad's Utility Knife

Explore the transformative practice of Family Constellation work with this guided meditation. Led by Abi Beri, an integrative holistic therapist and Family Constellation facilitator based in Ireland, this meditation helps you connect with your family system, honour your roots, and release inherited emotional burdens.

This practice will guide you to:

Acknowledge and honour your ancestors.
Release patterns and burdens that no longer serve you.
Receive love, strength, and wisdom from your lineage.
Foster a deep sense of belonging and connection.
Perfect for anyone seeking healing, emotional clarity, and ancestral connection, this meditation offers a gentle path towards transformation.

Honouring the Roots: A Family Constellation Meditation for Healing

When dealing with your nest egg, you should only deal with the best. At NY Federal Gold, we pride ourselves on being America’s most trusted and highest rated Precious Metals company.

The State Library of Western Australia collects and preserves Western Australian history. The State Library collects voices and stories through oral histories, diaries, journals, maps, photos, films, music and oral histories. Delve into WA history though our regular ABC Radio interviews "History Repeated"" series or listen to some of our live panel event recordings. Discover more about WA UFO files, nuclear testing and Bob Hawke's school report.

Aboriginal and Torres Strait Islander peoples are advised that the State Library of Western Australia's recordings of public talks may contain names and voices of people who are now deceased.

New tracks tagged #inherited