I have an accountant reviewing this but curious if anyone else has any thoughts. My father passed away last year after 50 years with the same company. He had a sizeable pension that has paid as a lump sum to his estate. He was not allowed to designate a beneficiary and was not married. I am the executor and the estate is currently in probate. The lump sum is being used to pay some creditors but the tax implications are unclear to me. We elected to not have any withholding at the time of the payment. I wanted to rollover into an inherited IRA but we have just passed the 60 day mark and I am still unable to move those funds anywhere. Am I too late to take any action to avoid a large tax bill? Per his will, all estate funds go into a trust, I am trustee, so not even clear what the implications of that would be if I can roll over the funds into an inherited IRA.
