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FfxStationHokie

Joined: 02/20/2002 Posts: 33426
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Having that Certificate of Qualification is key.

So, your next thing to file (12 months after you went to probate) is Account for Descendants Estate - and if you wrap everything up financial then this can be your final accounting.

Yes, if no beneficiaries on the 401K or IRA then that money goes to the estate - and then you distribute it to the beneficiaries.

Just keep track of all monies flowing into and out of your estate checking account. And money flowing out you need a receipt or invoice for.

hokie at brinkleys dot org



[Post edited by FfxStationHokie at 08/24/2018 2:54PM]

(In response to this post by Hokie Koooster)

Posted: 08/24/2018 at 2:52PM


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Current Thread:
 
  Could use some advice... -- Hokie Koooster 08/24/2018 12:52PM
  Sincerest condolences, Koost. Can't imagine the pain that must be** -- Technocrat 08/24/2018 7:53PM
  So very sorry ** -- LaneRat 08/24/2018 2:51PM
  The probate office will provide forms for inventory and accounting -- lchoro 08/24/2018 2:40PM
  Yeah, I've met with the clerk's office already -- Hokie Koooster 08/24/2018 3:08PM
  A few things (inside) -- FfxStationHokie 08/24/2018 2:31PM
  Yes/yes/yes - IRA is only about $3,500 ** -- Hokie Koooster 08/24/2018 2:35PM
  Good (inside) -- FfxStationHokie 08/24/2018 2:52PM
  I can't imagine. Sorry, Koooster ** -- HokieDiver 08/24/2018 2:23PM
  A reputable CPA should be avle to give you an initial consultation -- One4VT 08/24/2018 1:56PM
  I don't have CPA advice-just wanted to say thoughts are with you...I .... -- TD-Tech 08/24/2018 1:47PM
  Have you moved the 401K into your name or is it still in his name? -- Hokieesith 08/24/2018 1:46PM
  Does he not have to deal with the 401k as an inherited IRA -- VaTechie 08/24/2018 8:39PM
  Looks like he withdrew all of it, so there won’t really be any -- Hokieesith 08/24/2018 9:12PM
  Got ya ** -- VaTechie 08/24/2018 9:15PM
  You’re a CPA, right? I seem to recall that before you changed your handle. ** -- CPRVHokie 08/24/2018 2:18PM
  Yes. ** -- Hokieesith 08/24/2018 2:29PM
  I just followed Oppenheimer's instructions on disbursing it to his estate ** -- Hokie Koooster 08/24/2018 1:55PM
  When you say "disburse" do you mean just putting it into the estate name -- Hokieesith 08/24/2018 2:32PM
  I had to give the EIN to Oppenheimer and the check will be to his estate ** -- Hokie Koooster 08/24/2018 2:34PM
  Who was the beneficiary of the 401k? ** -- CPRVHokie 08/24/2018 2:38PM
  There wasn't one designated ** -- Hokie Koooster 08/24/2018 2:43PM
  Is the insurance payout payable to his estate? ** -- CPRVHokie 08/24/2018 2:56PM
  Yes - insurance settlement and IRA are the two things comprising his estate ** -- Hokie Koooster 08/24/2018 3:06PM
  Looks like you will need to file an estate return. ** -- Hokieesith 08/24/2018 3:14PM
  Aaaaaaand we’re back where we started. ** -- CPRVHokie 08/24/2018 7:00PM
  Kind of. Needs to be done in steps. -- Hokieesith 08/24/2018 8:13PM
  God Bless, hang in there. Two thoughts on help -- RichwebHokie 08/24/2018 2:21PM
  Dang, man. I missed that news. I am truly sorry for your loss. -- CPRVHokie 08/24/2018 1:19PM
  Thanks. Yeah, I live in the 757 - in Poquoson ** -- Hokie Koooster 08/24/2018 1:55PM
  OK. Kinda tough on a Friday, but I’ll make some calls on Monday. -- CPRVHokie 08/24/2018 2:16PM
  You're a good egg, CPRV. -- s.mill hokie 08/24/2018 2:25PM
  Re: Could use some advice... -- DaveVT 08/24/2018 1:09PM
  There are accountants who can legally represent you@ IRS. -- 48zip 08/24/2018 1:02PM
  @Hokie CPA , can you help answer this question? -- Late 80s Hokie 08/24/2018 12:59PM

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