You have two main options after inheriting a retirement account. Withdraw all of the money and receive a whopping tax bill, or move the inherited 401(k) or IRA into a Beneficiary IRA (aka Inherited IRA) and defer taxes until you make withdrawals. There are some rules that need to be followed if you want to go the Inherited IRA route.
Source: How To Minimize Taxes When You Inherit An IRA | Forbes
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