The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Estate question Date:  7/24/2012  8:18 PM
Author:  TMFPMarti Number:  116448 of 127300

The account is named "His name first" Then TOD followed by two names.

It is clearly labeled a "Retirement Account" on each page.

You need to find out exactly what "Retirement Account" means in this context. It could be something like a "Christmas Club" savings account, in other words, totally meaningless in terms of tax law. The source for the answer is the company where the account is located.

Which reminds me, what have they told you about the account and your access to it? If it's TOD and there's a death certificate, why isn't it already in the beneficiaries' names? If it's an IRA why isn't it titled as such?

I'm under the impression that you're not executor of your father's estate, but if your name is on the account that's moot. You don't have to rely on the executor to do anything.

Rule Your Retirement Home Fool
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us