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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 46160
Experience:  29 years of experience practicing law, including tax and estate planning.
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My sister passed away on July 3rd,and she did not have a will.

Customer Question

My sister passed away on July 3rd,and she did not have a will. My other sister and I were
left as beneficiaries of her 401K. My sister has already cashed out her portion, but I was
trying to roll my portion over into an inherited IRA to ease the tax burden. One of the forms
I will have to submit is an Affidavit of Domicile, where I will have to affirm that my de-
ceased sister's estate has been settled. Her estate has not even been established yet.
Can I do this or should I just cash out the account?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is XXXXX XXXXX I look forward to helping you!


Good evening. Can you provide me the form they are asking you to sign? The reason I'm asking is that typically an Affidavit of Domicile is simply an affidavit that the decedent lived in the applicable state and the time period of that residence. A typical Affidavit of Domicile does not require that you affirm that the estate has been fully settled; in fact, the Affidavit of Domicile is typically to facilitate the process of settling the estate and thus almost by definition must be provided prior to the estate being settled.
Customer: replied 1 year ago.

I do not have a fax machine, but the form asks for my sister's infor-


mation. Then my information, and the next portion says,


3. Affirmations


Any and all debts of the deceased, claims against the estate, admini-


stration expenses, inheitance and estate taxes and legacies having


priority, have been provided for or paid.


 


This affidavit is made for the purpose of securing the transfer or


delivery of property owned at the time of the decedent's death to a


purchaser or the person or persons legally entitled thereto under the


laws of the state of the decedent's domicile. Any apparant inequality


in distribution is appropriate, whether because of the manner of dist-


ribution of other estate assets, the provisions of the estate plan or other factors.


 

Customer: replied 1 year ago.

I do not have a fax machine, but the form asks for my sister's infor-

mation. Then my information, and the next portion says,

3. Affirmations

Any and all debts of the deceased, claims against the estate, admini-

stration expenses, inheitance and estate taxes and legacies having

priority, have been provided for or paid.

 

This affidavit is made for the purpose of securing the transfer or

delivery of property owned at the time of the decedent's death to a

purchaser or the person or persons legally entitled thereto under the

laws of the state of the decedent's domicile. Any apparant inequality

in distribution is appropriate, whether because of the manner of dist-

ribution of other estate assets, the provisions of the estate plan or other factors.

 


Expert:  Richard replied 1 year ago.
Thanks for following up. That provision doesn't mean the estate has to have been settled. It simply is affirming that "any and all debts of the deceased, claims against the estate, administration expenses, inheritance and estate taxes and legacies having priority have been provided for or paid." That means that the estate will be able to pay its debts basically and other than estate taxes, all the other debts do not have priority over your 401k inheritance. So, you can affirm this without having settled the estate and you should..taxwise...have it rolled over into an inherited IRA to delay the taxation of the inheritance.



Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If I have not fully addressed your questions or if you have any follow up questions, please simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent) so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard, Attorney
Category: Estate Law
Satisfied Customers: 46160
Experience: 29 years of experience practicing law, including tax and estate planning.
Richard and 6 other Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

Thank you.

Expert:  Richard replied 1 year ago.
You're welcome...it's my pleasure to help!
Expert:  Richard replied 1 year ago.
Thank you so much for your rating!
Expert:  Richard replied 1 year ago.
Thank you also for the generous bonus! I appreciate your kindness!

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