Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: tracylvh Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121477  
Subject: Living Trust as Beneficiary Date: 10/22/2000 1:03 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My in-laws had a Joint Living Trust. My father-in-law passed away in 1997 at age 71. He had an IRA in which the Trust was named the primary beneficiary. His wife was the secondary beneficiary. Distributions had started before his death. At the time of his death there was much confusion as to how to rollover this IRA, but in the end it was left alone.The distributions continued, but now, after 3 years we are told this was a mistake and because the Trust was named the primary beneficiary my mother-in-law should have taken a lump sum distribution 3 years ago. At this point she wants to rollover the IRA into her own IRA. Is this possible?
We have been unable to get a straight answer from the bank, tax advisors, lawyers and financial advisors.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Implications of the Ballad of Ted Plotz
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.