Our daily roundup of retirement news your clients may be thinking about.

Do I owe taxes on a windfall from a retirement plan? Clients who inherit from their parents' life insurance policy will not incur taxes on the payout but inheritance from a 401(k) or other tax-deferred retirement accounts will be subject to income taxes, according to this Q&A article. While beneficiaries of tax-deferred retirement plans can claim a lump sum, they can also spread the distributions over a certain period of time by opening an inherited IRA and subsequently moving the assets into this new account if they are allowed. They are advised to seek advice from a tax expert to comply with the rules.   --CNN Money

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