Estate Law Questions? Ask an Estate Lawyer.
Maybe I am wrong on this but will the successor which is the financial company distribute the money to us in cash or will they roll it over to an individual IRA for each of us or will they keep it as one IRA and distribute the money to us out of the 100K. From what I been researching they keep mentioning something based on the oldest beneficiary. In my case I am 30 but the oldest is 60...
Do I close this question out and open a new one? Also would you be able to help me with exactly what I should ask?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).