Our mother recently passed away. She had a 401k but designated no beneficiaries. She had a will that left everything to me and my two siblings. All of us are grown adults. The 401k administrator said that they would put the 401k into the name of estate of jane doe. I was told that by the administrator we have 5 years to withdraw the monies in this account. My question is can we roll this money into three seperate IRA accounts in our names to keep the estate from having to pay taxes on this money or what other way could we do this?
Asked on 9/10/10, 1:03 pm
1 Answer from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Meet with a CPA or tax attorney to determine what would be the best option.
Answered on 9/15/10, 2:00 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
