Recent content by chrd

  1. C

    Annual Gift workaround

    I'm in a very large income inheritance scenario and honestly wish I'd be able to give more away to lower my taxable amount that went to family instead of a charity. Already have done the retirement accounts, etc. If you're married I think it's $36,000? Also deposits over $10,000 are going to be...
  2. C

    Death after receiving direct rollover distribution checks.

    My mother passed away just after receiving two 401k rollover checks that are directly address to the destination IRA FBO Mom and not the 60-day indirect type made out directly to her. My sister and I are beneficiaries on the original 401ks, the destination IRA, and in the will for all the assets...
  3. C

    Death during a 401k rollover distribution

    I've reached out to a few lawyers to see if it's something that's possible. Thank you for trying.
  4. C

    Death during a 401k rollover distribution

    Court date after filing the petition is months out. Papers are not until then.
  5. C

    Death during a 401k rollover distribution

    We the beneficiaries have the checks in hand. They're still active I just am not able to deposit them as far as I know while they're made out to "Bank Name FBO Participant Name" We're also the executors and beneficiaries in the Will, however probate is some time off to get the Letters required...
  6. C

    Death during a 401k rollover distribution

    This is a great point. That wouldn't be able to be rollover and force lump sum tax once inherited. Concerning but is that any reason the plan sponsor would change they're stance? To me the sponsor's discretion seems like it should be applied to satisfy ERISA duties and, in this case, doesn't...
  7. C

    Death during a 401k rollover distribution

    It is a direct rollover however both plan sponsors issued the distributions in the form of a check to the receiving bank FBO participants name. So as is they can only be deposited into there or reclaimed by the original sponsors. Yes, same beneficiaries named on both 401k accounts. The one...
  8. C

    Death during a 401k rollover distribution

    Participant died in the middle of two 401k rollover distributions and the checks have yet to be deposited into an IRA. Checks dated days just prior to passing. Beneficiaries are designated correctly, however claims to the benefits have yet to be settled. Estate matters would work in the...
Back
Top