While both types of compounds make up the basis of chemistry, the two types are rather different. The main difference is in the presence of a carbon atom; organic compounds will contain a carbon atom (and often a hydrogen atom, to form hydrocarbons), while almost all inorganic compounds do not contain either of those two atoms. While most inorganic compounds do not contain carbon, there are a few that do.
Minor Children: If your designated beneficiary is a minor (under age 18) at the time of your death, your benefit will be paid to the childâs court-appointed guardian. Alternatively, you may designate a custodian to receive the benefit on behalf of the minor under the Uniform Transfers to Minors Act (UTMA).
Your Beneficiary Status. If, as the beneficiary of an IRA, you are the spouse of the original IRA owner, you can switch the IRA to your name and treat it like you were the original owner. This means you do not have to take any withdrawals until you reach the minimum required distribution age of 70 1/2.axes Must Be Paid Eventually. An IRA is a tax-deferred account, and Internal Revenue Service (IRS) rules force taxes to be paid on the account eventually. If you choose to withdraw any money from the inherited IRA, that money will be taxable for the year in which you made the withdrawal.