Reply to Family member death - Tax Filing and Retirement Accounts

Forum Index » Money and Finances

Reply to "Family member death - Tax Filing and Retirement Accounts"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Unfortunately I am also going thru this now. It is completely overwhelming. I’m still gathering information but was told if the estate is less than 50,000 you can avoid probate in Virginia. I figured I wait until after the busyness of tax season to find an accountant to help with the returns. The investment company said they needed the probate paperwork & death certificate in order to deal with the IRA, etc. [b]Get more copies of the death certificate than you think you need because everyone needs one in order to help you[/b]. I’m sorry for your loss.[/quote]

This is good advice.  I would focus on calling the accounts your family member held and the account you want the money transferred into because it depends on account type.  Many accounts have a payable on death policy or in the case of retirement accounts go straight to the beneficiary and can be handled quite simply with the death certificate.  When we handled this, it was two phone calls, a scanned copy of the death certificate and all was done.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics