Q: I am the POA of mother's estate, I requested to withdrawal her IRA after they verified she died in the process now they
Said I can't withdrawal it, now all her children have to come in and sign a paper and now it's considered a inheritance and it's a different process, is this correct? They don't go back to the date of the request?
A:
Your question is unclear. Did YOU as her PoA attempt to withdraw BEFORE she died? Then the process would have required only your signature. If she was ALREADY deceased when you made this attempt, then either the beneficiaries (if named) on the account will all need to contact the management company to receive their share, or an estate will need to be opened (if there were no beneficiaries named) so that the money can be distributed as a part of Probate.
A local attorney will be able to help sort this out if you still have questions.
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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