[WSBAPT] referral for probate in Riverside County and Sacramento County, California

[Marcia Mellinger]

Thanks in advance for any referrals you may have.  Best, Marcia

From: cyfield at rockisland.com
To: wsbapt at lists.wsbarppt.com
Date: Mon, 21 Mar 2016 10:40:20 -0700
Subject: Re: [WSBAPT] IRA inherited by minor - guardianship/blocked account?

Hi Alison- Not positive it will work, but an option you might explore is changing IRA custodians and using the UTMA until minor is 18. A few years ago, after failing to reason with existing custodian regarding the effect of divorce on named beneficiary (Mom) under Washington law, we switched to Fidelity and they were great to work in opening inherited account for alt beneficiary (estate/child, who was a minor as I recall).  I’d suggest talking to Fidelity and if they are on board, you open the new account and they’ll facilitate the custodian to custodian transfer. Good luck! Cy  Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640 Mullis St. Friday Harbor, WA******************************************************************The information contained in this e-mail message, including attachments, may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think you have received this e-mail in error, please e-mail the sender at cyfield at rockisland.com and destroy or delete the original and any copies.    From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Alison Warden
Sent: Monday, March 21, 2016 7:37 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] IRA inherited by minor - guardianship/blocked account? Dear Listmates - I have a question where a minor (age 16) inherits an IRA from grandmother. Parents/natural guardians are alive and well. The financial institution is unwilling to deal with parents in any form and refuse to title the IRA in the minor's name. The solution appears to be guardianship to allow the parents to manage the account, get it re-titled as an inherited IRA, and receive the distributions of the RMD. My question is: In such cases, would the court typically require that the Inherited IRA be set up as a blocked account, and would there then need to be a second blocked account set up to receive the RMDs?  Or, in your experience would the courts be willing to order the guardianship with no blocked accounts? This is the first time I have faced this scenario, so any input is welcome. Thanks! Alison WardenAttorneyLasher Holzapfel Sperry & Ebbersonwarden at lasher.com  
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