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Financial/Estate Advice Needed

JM Aggie08

JM Aggie08

Diamond Member
TL;DR -- Grandmother passed in 2022, I was executor for the estate, specific gifts in the will were given out as planned, everything else went to uncle. Uncle's names were on all accounts except a single IRA which is now solely owned by the estate.

This has been a pain in the ass. All of my grandmother's accounts were seamlessly transitioned to my uncle since he was already on them. However, there is a single IRA that he was not on that now falls under the estate. Everything but named gifts were to go to him, and I'm having a hell of a time figuring out how to transfer this last IRA over to him. The credit union has been useless, so looking for advice.
 
spacejamz said:
estate lawyer > forum advice
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This. A probate court is going to have to direct the transfer of the account in accordance with the will. You could talk to the probate court to see if the case is simple enough to let you self-represent as the executor. Sometimes the court will allow it if no one is likely to contest the will.
 
It should just be a simple form that you submit to the custodian to transfer the money (and/or the custodian that you want to transfer the money into). Companies like Vanguard will step you through the process and do the work behind the scenes for you: https://personal1.vanguard.com/cwp-change-of-ownership-angular/document-checklist/inheritance

But, there are important gotchas to consider. Was your grandma past the age of required minimum disbursements? How does your uncle want to receive the money? The answer to those two will significantly alter the options you have available to you and the amount of tax (if any) that will be incurred. I'd go back to that probate lawyer and ask what is best.
 
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JM Aggie08 said:
We worked extensively with a probate lawyer back in 2022-2023. This seems to have slipped beneath the radar. So I'm not sure if it's something I can work directly with the credit union at this point.
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have you circled back (I really hate that saying) with them to let them know this account was missed?
 
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