[WSBAPT] IRA with "Estate" beneficiary, and RCW 11.62 small estate affidavit

[Jane Bitz]

Eric:

Will the IRA custodian consider distributing directly to the three beneficiaries of the "estate" with the proper documentation, essentially each heir claiming their 1/3 using the lack of probate affidavit?

Jane Bitz.


Jane G Bitz
Of Counsel
Wolff, Hislop & Crockett, PLLC
12209 E Mission, Suite 5
Spokane Valley WA 99206-4824
(509) 927-9700; FAX (509) 777-1800
jbitz at whc-attorneys.com<mailto:jane at jbitzlaw.com>
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Thursday, March 7, 2019 11:04 AM
To: WSBA Probate & Trust Listserv (wsbapt at lists.wsbarppt.com) <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] IRA with "Estate" beneficiary, and RCW 11.62 small estate affidavit

I didn't think this was a first for me, but maybe it is--

Decedent had a small IRA that had the default "estate" beneficiary. Total value less than $30,000.

Submitted a small estate affidavit directing distribution to my client, for my client's account and also as agent for the other two heirs. Obviously my client isn't the PR of the Estate, but just a "successor" entitled to submit the affidavit, and also agent for the other heirs per their authorizations.

Custodian of the IRA refuses to distribute, because the "Estate" is the beneficiary, and therefore there must be a PR appointed who can receive the money on behalf of the "Estate."

Is there no way around starting a probate in this scenario? I am thinking my client is stuck with starting a probate.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

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