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Questions Answered by Darlene Pasieczny
1 Answer | Asked in Probate and Estate Planning for New York on
Q: Do distributions have to be made to all beneficiaries at the same time?

I was just told by my deceased mothers financial advisor that distribution from her accounts have to be made to all beneficiaries at the same time. We are talking about an IRA and a Brokerage account both of which have designated beneficiaries named.

Darlene  Pasieczny
Darlene Pasieczny
answered on Sep 1, 2022

This may be true. Generally speaking, brokerage firms and custodians of retirement accounts have contractual terms in the account agreement regarding the timing of distributions to named beneficiaries after the death of an account holder. Additionally, depending on state and federal law, and the... View More

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