JulesInCNY Posted February 25, 2021 Report Share Posted February 25, 2021 my dad passed a few months ago, somewhat unexpectedly after a brief but serious illness, so my siblings and I are dealing with the aftermath of not having everything wrapped up in a neat little ribbon. he had an IRA that was paying him a small monthly installment to cover his annual RMD. my mom wanted to transfer the IRA to her own and continue getting the monthly installments, but the custodian is telling us there was no beneficiary designation on file (what? hard to believe my dad didn't do this!) and the only default is to an Estate, and taxable. why wouldn't it be to a spouse? I deal mostly with qualified 401k and retirement plan distributions so an IRA is out of my field of expertise. we continue to search for old documents at the house, but in the meantime am looking for some guidance. is this normal for an IRA? it doesn't make sense that mom will have to get an attorney and set up an estate, go thru probate, have to pay taxes (and legal fees!), etc. thanks! Link to comment Share on other sites More sharing options...
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