60 Rollover for deceased individual
If a person dies after taking a large distribution from an IRA, could the executor of the estate roll it over into the deceased person’s IRA within 60 days? Or are there other actions the executor could take on the distribution, for example re characterize as a Roth conversion.
Permalink Submitted by Bruce Steiner on Wed, 2016-06-22 15:58
Permalink Submitted by Anthony Malizia on Wed, 2016-06-22 22:50
Thank you for you response and information. Would the intent of the distrubiton matter? The decedent took the IRA distribution to fund a trust for a friend who needed assets to qualify for a retirement community. The money from the distrbution went to the trust and some to the retirement faciltity. Shortly after her passing the friend of the decendent unexpectedly died and the retirement facility is giving back the funds. The custodian, LPL Financial, said they would accept the funds as a 60 day rollover from the executor fo the estate.
Permalink Submitted by Alan - IRA critic on Wed, 2016-06-22 23:38
Permalink Submitted by Anthony Malizia on Thu, 2016-06-23 15:22
Got it, we will move quickly on this. Thank you for sharing your expertise!