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No IRA beneficiary.

Irvine, CA |

I'm wondering what happens now that my uncle has passed away but he didn't have a beneficiary listed for his IRA. He had everything else in his trust.

Attorney Answers 5

Posted

The IRA will have to be probated through the pour-over will and then distributed to the beneficiaries according to the terms of the trust. The tough thing will be to keep these classified as inherited IRAs for tax purposes.

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Posted

Sorry-the account now needs to go through probate.

The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.

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Posted

Without a beneficiary, the proceeds will go into the estate and then pass according to the will (which may be a "pour-over" will into his trust.

The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.

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Posted

I agree with my colleagues. However, you might be able to access the IRA funds through a small estate affidavit, depending on the amount in the account. This is a quicker and less involved procedure than a full probate. You also want to check with the IRA fund to see if it will accept an affidavit as some funds will not.

Please note that I am answering this question as a service through Avvo but not as your attorney and no attorney-client relationship is established by this posting. An attorney-client relationship can only be established through signing a Fee Agreement and paying the necessary advanced fees.

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Posted

My colleagues are all correct. Unfortunately, the funds will be required to go through probate and passed according to the pour over will that was presumably set up with the trust was drafted.

This response is for informational purposes only and is not meant as legal advice. No attorney-client relationship has been established.

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