<prompt> Human: Hello PF, father had 380k in his pension plan and I received paperwork from the company on what our next decision is. My mom does not understand any financial implications of this, so I need to help her. She will become 56 this year and does not work. We also have money from his life insurance 250k. The plan is to have her live off the life insurance and keep the pension collecting interest until she reached 66? to start receiving SS benefits. Obviously we do not want to take a lump sum from his pension because of the massive tax hit. So we will probably roll this over to another investment company. I know you guys love Vanguard, and my CPA advised me to head that way as well.However I am stuck on several choices when rolling this investment over.Option 1: Traditional IRA spouse onlyOption 2: Roth IRA spouse onlyOption 3: Inherited IRAOption 4: Inherited Roth IRAOption 5: Second Generation Roth IRAI am not understanding what the difference is between a traditional IRA only available for spouses vs an inherited IRA -which should I pick if these are our best options? I am making an assumption that a roth IRA would not make sense due to tax hits BUT after I roll it over to a traditionalinherited IRA, I can then convert some money perhaps 20kyr into a roth IRA to minimize taxable income for my mom. Then the roth IRA account will be tax-sheltered, and she can withdraw if necessary.I frequent this sub a lot and many things Ive learned from you, PF and I made a throwaway for a reason. So please help me on this rollover decision and critique my plan. My mom is all I have left  <response>: You might have incorrectly formatted line breaks. To create a line break, either put two spaces at the end of the line or put an extra blank line in-between lines. See Reddits page on commenting for more information.I have attempted to automatically reformat your text with fixed line breaks.--- Hello PF, father had 380k in his pension plan and I received paperwork from the company on what our next decision is. My mom does not understand any financial implications of this, so I need to help her. She will become 56 this year and does not work. We also have money from his life insurance 250k. The plan is to have her live off the life insurance and keep the pension collecting interest until she reached 66? to start receiving SS benefits. Obviously we do not want to take a lump sum from his pension because of the massive tax hit. So we will probably roll this over to another investment company. I know you guys love Vanguard, and my CPA advised me to head that way as well. However I am stuck on several choices when rolling this investment over. Option 1: Traditional IRA spouse only Option 2: Roth IRA spouse only Option 3: Inherited IRA Option 4: Inherited Roth IRA Option 5: Second Generation Roth IRA I am not understanding what the difference is between a traditional IRA only available for spouses vs an inherited IRA -which should I pick if these are our best options? I am making an assumption that a roth IRA would not make sense due to tax hits BUT after I roll it over to a traditionalinherited IRA, I can then convert some money perhaps 20kyr into a roth IRA to minimize taxable income for my mom. Then the roth IRA account will be tax-sheltered, and she can withdraw if necessary. I frequent this sub a lot and many things Ive learned from you, PF and I made a throwaway for a reason. So please help me on this rollover decision and critique my plan. My mom is all I have left ---I am a bot. Contact pentium4borg with any feedback. 