[WSBAPT] QUESTION - BENEFICIARY DOES NOT WANT BEQUEST

[Eric Nelsen]

I'm not sure I understand what a "beneficiary IRA" is. Does that mean the decedent had an IRA that named the beneficiary (I'm just going to call them "B") as a beneficiary, and now B's share of the IRA has been moved into an inherited IRA in their name? I'm guessing that I am misreading your post, because I think B would have had to cooperate with the IRA custodian in order to have an inherited IRA account opened.

Assuming that I'm just wrong about the whole "IRA" thing:


  1.  A refused bequest does not flow to other beneficiaries automatically. If B disclaims the gift, then it can be distributed as if B had predeceased. If B simply refuses to receive it, I find it gets tricky. I did have this happen once, and I ended up asking the court for an order authorizing the PR to deposit that cash into the court registry, and deliver notice to B that it's there for them to pick up if and when they want it.
  2.  Not if the PR knows there are undistributed assets. A probate can be re-opened if new assets are discovered, but in this circumstance the PR has to do something with the known asset that is supposed to go to a known beneficiary.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Fern Herbert
Sent: Wednesday, July 12, 2023 7:49 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] QUESTION - BENEFICIARY DOES NOT WANT BEQUEST

Hello List mates,

Interesting issue: We have a beneficiary who refuses to take what was bequeathed to him. The funds have been placed in a beneficiary IRA for him. PR now wants to close probate. If this beneficiary never accepts the bequest, the PR would like to eventually distribute his share to the other beneficiaries.

 1)Does anyone know of any legal guidance on if and when the PR may go back and distribute the contents of this bequests to the other beneficiaries?
 2) Can the PR close probate and then re-open later on to re-distribute?

Fern Herbert
Managing Attorney
Zenith Law Group, PLLC

Business Mailing Address
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Lynnwood, WA  98036
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