Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.
You should get copy of death certificate here and write demand for payment.If you are named beneficiary they should pay you.The IRA here you have option to roll it over in your name or cash it and count it as income--no penalty for early withdrawal since it is inherited here.You will pay regular income taxes on it.
I appreciate the chance to help you today.I am so sorry for the loss of this person.
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I am sorry missed that part.No taxes here on life insurance , there is on IRA as I set out above unless you roll it over and defer.You don't have to give the monies to anyone they are yours free and clear as named beneficiary.Once they pay you it is yours.They will ask you if you want taxes held out of IRA if you cash it buts thats optional here.
Thanks for the follow up let me know if you have more.I appreciate the chance to follow up.
Thats correct if the naming of beneficiary was pre divorce.If it was post divorce and she named you then it should go to you.
Reference to the case law
Thats correct.If it was post divorce you should be able to claim it here.
Thanks for the followup.