Obtaining a copy of deceased fathers IRA beneficiaries

Submitted by Marija Kovacevic on Wed, 2017-07-05 06:00

I have just received information from my sister that I was the only child not named as a beneficiary on my fathers IRA estate 1 1/2 years after his death and 1 week after payments were dispersed. My sister is the executor.

No documents were provided to me or the other siblings. I have asked many times. In addition, I was told that my sisters daughter was listed as a beneficiary to the IRA along with my 3 siblings.

Is there a way I can obtain information about my fathers IRA estate without involving my siblings?

Thank you for any help

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Permalink Submitted by Marija Kovacevic on Wed, 2017-07-05 06:13

Some additional info …my father’s estate was split between 2 accounts, an IRA and a Scott’s trade account. I managed to obtain all info on the Scott’s trade account but none on the IRA. I was told by the agency handling the Scott’s trade account that my father had no will and that his estate would be divided amongst the 4 children. my sister is aware that I only have info about the Scott’s trade account and she has been forthright about that part of the inheritance. I am suspicious because it is difficult to imagine that he named beneficiaries on the one and not the other, and, that he would leave me out. I live abroad and my only option was to agree to her being the executor. feeling heartbroken about this and just want to achieve some clarity. thank you, Marija

Permalink Submitted by Ben Meyer on Wed, 2017-07-05 15:44

From what you are saying it looks like the estate is in probate, since you say your father had no will, but he had a Scott Trade account as a personal account, not in an IRA. You also say that your sister is executor, which also implies that the estate is in probate. Did you sign something giving your consent? If your father had no will his estate is called an “intestate” estate. The usual way to divide such an estate under most state laws would be to divide it equally between the four children, which is how you described the situation, also assuming there is no surviving spouse. It may also be possible that the Scott Trade organization is dividing the account without probate, possibly under the terms of the account agreement. It may also be that your father’s state has rules for distributing estates under a certain value, called “small” estates. In California, for example, a distribution can be made without probate for estates up to $150,000, assuming there is no real estate valued over $50,000. (Certain rules need to be followed to do this.)
So the important questions are: What is the state where your father lived? Was a probate case opened? What did you sign giving your consent to your sister to be named as executor? If a probate was opened, it would not cover any IRA accounts with named beneficiaries, but it would cover all other assets including a brokerage account that was not part of an IRA. All records are probably open to the public in a probate case. You can request copies from the probate court handling the matter, which would probably be in the county your father resided. There may even be online access to an index disclosing the basic facts of the probate. If the estate is not in probate you would need to find out the type of distribution that was made or proposed, again assuming that the brokerage account was not part of an IRA. You would have various options available depending on the manner of the distribution. The services of a lawyer local to the area may well be required if your rights were not properly considered.
For the IRA you should try to determine the institution where the IRA was held. Then you can ask them directly if you are named as an IRA beneficiary of your father.

Permalink Submitted by Marija Kovacevic on Thu, 2017-07-06 04:56

Thank you so much for your quick reply. In answers to your questions plus some other details

The state is Ohio
I did sign paperwork along with my siblings allowing her to be the executor and a probate case was open for the investment account. I was not informed of an IRA account at this time and when I inquired with the people handling the case, they were unaware of other funds.
The Scotts trade account is for about $62,000. I have seen these docs and communicated with the probate lawyers and accessed these documents online. They do not include the IRA.
I only just learned about the IRA from my sister in the amount of $50,000, again 1 1/2 years later after she just distributed the funds.
I have seen no paperwork on this and am unsure of the agency handling it.
I just learned since posting this question that the other 3 siblings and niece may have NOT been named beneficiaries on the IRA, but that there was a discussion with my sister on his deathbed stating that it was his wishes that the money be distributed between the 3 siblings and niece excluding me. He was in intensive care for only 2 days before dying and heavily medicated on morphine and suffering greatly for months beforehand.
I feel my family is not being forthright and am unsure of how to identify who the IRA agency was. My father tended to use the same agency for all matters so if his investments were with Scott’s trade perhaps his IRA is also with them. I have not spoken with Scott’s trade but will call them tomorrow
I have no money for a lawyer and am apprehensive to cause drama in the family. I am also concerned that if I protest, the amount coming to me from the investment account will be withheld and I so badly need it. She mentioned she would try to send checks for the investment account this week.
Is it possible to attest the amount after money is distributed so I can be sure to receive at least my portion of the Scott’s trade investment account before expressing disagreement with the IRA account?
If I was listed as a beneficiary on the IRA, wouldn’t I have received notice?
If I am not listed, would they be legally allowed to tell me who was if I provide proof of identification?
If my father named no one on the IRA and all siblings signed an agreement to make my sister the executor on the investment account, would this mean she might have received all of the money from the IRA account and that it is in her right to distribute it as she sees fit?
She told me all of this just after she cut checks for the IRA amounts and says she is writing checks for the Scottstrade account this week. After innumerable requests for information over the year+, this is when she finally tells me, when it is too late for me to object or do anything about it.
All children and my niece have been included in discussions over the past year + and I have been 100% excluded. If I would have been, I would have suggested that because my father was negligent in naming beneficiaries, and that I believe he would have wanted my niece to be a part of the inheritance, that we all distribute it equally among the 5 of us, sharing it with my niece, regardless of the law. But it seems they all, or my sister alone, decided the amount should come solely from my share which is what I do not agree with.

thank you so much

Permalink Submitted by Marija Kovacevic on Thu, 2017-07-06 05:00

in addition, I just found out that there were som liquid assets undisclosed to me. I am certain they were minimal and to cover basic expenses as my father was rarely liquid…but none of this was shared with me and I still have no idea of the amount or what it was spent on.

Permalink Submitted by Ben Meyer on Thu, 2017-07-06 15:20

You have every right to receive information about the probate. The filing of an inventory is required. You should be able to request a copy of the inventory from the Probate Court or from the estate lawyers. You can look up for yourself many of the details of the probate. Just make a Google search for “probate OH” and there will probably be a search screen for you to research the probate case. Each county has a separate Probate Court, and probably a searchable website. They will probably list all items filed with the court, which should include the inventory and also the waiver you signed. You can request copies of any of these items, but you may be charged a copying fee. As an example, the Probate Court search screen for Franklin County, covering the city of Columbus, is at the following website:

https://probate.franklincountyohio.gov/search/general-case-index.cfm

There will also be a final accounting filed with the probate court, which may also disclose facts of interest to you.
Regarding the IRA, if there was no beneficiary designated the IRA funds would probably be payable to the estate, depending on the specific rules of the IRA. If the IRA was distributed to the estate it will be included as an estate asset in the inventory. You are most certainly entitled to ask any organization you suspect may be the IRA custodian if you or the estate are the beneficiary of the IRA. Be ready with your father’s SSN and date of birth. Certainly you should ask Scott Trade. But if you or the estate are not the beneficiary they may refuse to give you any information. In such case it would be perfectly proper to contact the estate lawyers and ask, either by phone or by letter. You should be entitled to know more. It seems odd that some daughters would be named as beneficiaries to the exclusion of others, so this is a reasonable question.
You may also be able to determine the IRA custodian by requesting a transcript from the IRS of all information returns filed for your father, including any forms 1099-R and 5498. As a daughter and an interested party, you are probably entitled to request a transcript for a deceased parent. See IRS form 8506-T.
For more information in general about probate in Ohio see the following:

https://www.ohiobar.org/forpublic/resources/lawfactspamphlets/pages/lawfactspamphlet-1.aspx

https://www.ohiobar.org/General%20Resources/LawandYou/TLAY_Chapter09.pdf