My Deceased Mother’s Citibank IRA
Can you recommend a trustworthy person who can help me deal with Citibank Retirement Services? They have been VERY difficult to deal with as I try to obtain my deceased Mom’s substantial amount of money. I’ve sent them all the documents and info they have requested, but they continue to drag their feet & come up with more “needed documents.” PLEASE HELP! THANK YOU!
Terry Says
Were you named as beneficiary of her IRA? If so, they should honor your request to do a direct transfer into an inherited IRA. From there you can do a rollover directly to Fidelity or Vanguard or another custodial firm.
BUT, if NO IRA BENEFICIARY was named, then the balance goes into her probate estate. And if that’s the case, it’s why they are demanding all sorts of documentation, required by law, to make sure this goes into her probate estate. And if so, you must have a probate attorney to take the entire estate (her home, other savings, assets, and this account) through the legal process.
So I don’t know the exact situation. Please feel free to write back to the email you receive saying your question has been answered.
BUT LET THIS SERVE AS A WARNING TO OTHERS: MAKE SURE YOU NAME A BENEFICIARY FOR ALL IRA ACCOUNTS!
