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The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.” Ronald Reagan, 1911-2004.

I have to laugh at myself … If doing something would make you more productive and efficient, it logically follows that this is something you’d want to do, right? Well, I thought so too until I received an e-mail from the professional coach I worked with last season to see if I’d like to do so again.

Working with her was a wonderful experience and helpful in ways that I didn’t expect. The tangible changes in my professional life were amazing but there were also more personal and intangible benefits.

I was less stressed, felt more in control, established systems and brought more structure into my day. The helpful insight and encouragement received from my “coach” moved me out of my “comfort-zone” into the “smart-zone.” So why did I hesitate to sign up for another round of coaching?

The real reason is that looking at my habits and conducting an honest appraisal of myself includes a little pain. One or two of those Seven Deadly Sins may apply to my world. I’m not quite perfect yet.

However, if I want to continually improve myself this is a necessary endeavor; like weeding the garden, giving more attention to what’s working and is flourishing, pulling out the weeds and planting a few new seeds.

So after breaking it down and realizing that I like the positive results, I signed up for another six months of coaching.

Just like my hesitation to “re-up” for coaching I find that individuals often avoid doing what may be beneficial for them when dealing with their finances. Even if something could bring great results there’s still a good chance we’ll avoid it. A client of mine works in a dental office and we joke about how most people don’t relish the idea of going to the dentist but the results are worthwhile. Brush, floss and have a check-up every six months is simple stuff but often dreaded. Same concept holds true for your financial life.

When it’s time for your monthly, quarterly, or annual financial review I bet that it’s not the first thing completed on the “to-do” list. Are you planning ahead and keeping your documents up to date to reflect any changes? For instance, have you thought about how you’d handle the receipt of an IRA that you may inherit from your spouse or someone else? Probably not.

Having the proper structure in place is important and is the type of thing I think about all the time. Having a “coach” and asking for professional guidance and education allows us to understand what the issues are and address them. As long as I know that I don’t know what I don’t know, there’s hope.

So what can you do with an inherited traditional IRA, SEP-IRAs or SIMPLE IRAs? It depends on your relationship to the original account holder, your age and the age of the account holder at death.

Spousal inheritance — If you inherit your spouse’s IRA, you may assume the assets by transferring them into an IRA in your own name. No matter your age, you won’t have to pay a 10 percent penalty, and if you’re not already 70 and a half, you won’t have to take any distributions until you reach that age, which means the assets can grow until you need them or until you are required to begin taking distributions. You may elect to take a lump-sum distribution. Keep in mind that distributions from traditional IRAs are subject to your normal tax rate, and a large lump-sum distribution may easily shift you into a higher tax bracket.

Another option involves transferring your spouse’s IRA assets to an Inherited IRA set up in your name. You can elect to take all of the money at any time within a five-year period (if your spouse was not yet 70½), or you can delay taking distributions until the year in which your spouse would have reached 70½. Required minimum distributions are determined by your age and the IRS life expectancy tables.

Non-spousal and others — Non-spousal beneficiaries may not assume the IRA, but the other options are available: lump-sum distribution or establishing an Inherited IRA with a five-year or life-expectancy distribution plan. Disclaiming an IRA partially or in full allows the assets to pass to other primary beneficiaries or to secondary beneficiaries. If you’re a beneficiary through trust, the lump-sum or five-year/life expectancy options may be available. Estates generally must take the lump-sum or Inherited IRA distribution methods.

Roth IRAs are subject to rules similar to those that apply to traditional IRAs, but some considerations may revolve around the generally tax-free nature of Roth distributions. Many IRA decisions are irrevocable and time deadlines apply, so it’s wise to consult with qualified tax or legal counsel. Ask for all the help you can get when dealing with something outside of your “comfort-zone.” There’s no need to have worry and stress drain you.

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Darcie Guerin is a financial adviser and branch manager at Raymond James & Associates Inc. at 606 Bald Eagle Drive, suite 401, Marco Island. Contact her at Darcie.Guerin@raymondjames.com, 389-1041 or toll-free (866) 343-0882.