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IRA Check Payee Has Died -- Now What?
Answer by Ken Golliher, BOL Guru
Guru Bios
Question: We have a IRA owner who received a required minimum distribution check and died before cashing it. What do we/does the beneficiary do with the check?
Answer: The beneficiary owns the funds in the account at the time of death, not checks issued prior to death. The check should be delivered to the personal representative for the decedent's estate.
First published on BankersOnline.com 11/07/05
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