Custodial Document

My mom passed away March 2009. In 2004 she opened a self directed IRA with Banc of America Investment Services.
In 2009 it transferred to Merrill Lynch. There is no record of a designated beneficiary, but she did have a surviving spouse. The account was listed in the inventory as separate property when it went thru probate. The paperwork from probate states the inventory and appraisement of all personal property is due and owing the estate. I am looking for the Merrill Lynch Custodial Document from 2009 to see if it also states (hopefully) when there is no beneficiary-even if there is a surviving spouse it is still paid to the estate. I am the Independent Executor of the Estate.



  • Does Merrill Lynch think the default beneficiary is the spouse or the estate?
  • If the estate is the default beneficiary, you’ll have to determine how it passes.  If she lived half the year in Florida and half the year in Texas, you could have a disputed domicile case. 

Merrill Lynch thinks the default beneficiary is the spouse….I am looking for any information to have it go to the estate……

ML should know what their agreement says. However, in early 2009 it is more likely that ML had not changed any of the Bof A agreements to a ML agreement, so the BofA agrement your mother originally received likely applied at the time of her death. The default beneficiary provisions do not change very often. I assume that the IRA agrement she had 10 years ago cannot be located?

Correct- the original BofA IRA agreement cannot be located…that is why I am looking for a custodial agreement from BofA from 2009 ….

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