Undoing Ill-Advised Inherited IRA Distribution

Submitted by Susanne Starr Goodman on Wed, 2012-05-16 02:06

New client was advised by investment adviser to cash out inherited IRA. Distribution has been requested, but check has not yet been received. Is it possible to undo by having custodian issue stop payment on check? Thanks for any guidance.



Submitted by Alan Spross on Wed, 2012-05-16 03:50

Probably not, but it is probably worth the effort to try. Chances are better if the check has not been distributed yet.



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