The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/the-real-challenge-is-if-the-custodian-requires-34079958.aspx

Subject:  Re: 401K/IRA in probate Date:  12/8/2018  8:47 PM
Author:  vkg Number:  128248 of 129252

The real challenge is if the custodian requires the estate be the beneficiary of the intestate IRA. If the owner died prior to the Required Beginning Date, then the IRA balance must come out not later than the end of the 5th year following the year of death.

Exactly describes the situation.

And I've never heard of a custodian who couldn't produce last years IRA end-of-year statement. I mean, that's what they do...unless, I suppose, this is some fly-by-night outfit.

Last year's statement for the original IRA. I am certain they have it. Going in with an old IRA statement (for the account number), Letters of Administration, Death Certificate and patience would have probably been successful. It is so much less stressful not to need to do so.

Working on obtaining online administration access. I have a form to file but it may only give phone access. It is time to roll it over to my broker. Between our accounts and the estate accounts there are accounts at 7 different brokers.
Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us