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Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124982  
Subject: Re: inherited IRA - or lump sum > Roth IRA Date: 1/20/2012 4:23 PM
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inparadise: "I am also dealing with trying to figure out what to do with inherited tax deferred funds, . . . .

There are six of us, all siblings, who are beneficiaries on Dad's estate. It's been eye opening to me the various ways in which this money will either benefit, or even harm, the various recipients. . . . The last would love it if Dad had left him out of the will altogether. F or many reasons he can not work and is on disability. He has advanced cancer, which has spread to the bones, and is dependent on Mass Health Insurance. Even a small amount of assets can kick him out of Mass Health, with no guarantee of being able to pay any amount of money to get another insurer. He is currently undergoing radiation treatments, and completely overwhelmed at what to do. A sibling that lives near him is trying to help him find a professional to help him out, but he is completely overwhelmed. I suspect Bro would be happiest if he could just say no to the inheritance, and not have to deal with it. So ironic."

This is not legal advice, and I have no idea what effect, if any, doing so would be have on the Mass health Insurance question, but there is a concept khown as disclaimer and/or discliaming an inheritance, which is essentially the equivalent of saying no, at least if dislaimed timely (and i do not recall the deadline).

Your brother really needs a good advisor.

Regards, JAFO
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