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Retirement tax questions
Appreciate the response. That was all my understanding as well, the issue is that his pension rules prevented him from designating a beneficiary. The rules simply said either a spouse is the beneficiary or, as in his care, if unmarried the lump sum is only payable to the estate. So that prevented him from designating a beneficiary. I was just hoping to roll over into an inherited IRA and take the distributions over several years to lessen the tax burden, but I am not allowed to touch the money until probate ends which will be past the 60 day period. I feel there has to be a workaround but not clear what that is.
‎April 8, 2022
10:01 AM