Q: Can the executor of an estate transfer a $20K IRA claim in bankruptcy, from the estate to the executor?
12/31/1998 my father purchased an IRA from Tri-National Development Corp by way of Pensco Custodian FBO, for $19,132.66. On 2/23/2006 Pensco transferred a bond to my father for $18,423, after Tri-National filed for bankruptcy. Bankruptcy proceedings are ongoing under US Bankruptcy Court, Southern District California, Case 01-10964-LT11, and may not conclude any time soon. As the executor for my father’s estate, I would like to close the Estate in order to make final disbursements to myself and 5 siblings, but not leave any proceeds from the bankruptcy on the table. Assumed: The $18,423 bond transferred automatically from my father to his estate when he died 9/27/2016. On US Bankruptcy Court form 2100A, is it permissible to name the “Transferor” as the “Estate of (my father’s full name)” and name myself (Executor) as "Transferee"?
A: Yes, attache a copy of your appointment. If you have any questions about the form, call the clerk of the Bankruptcy Court. Good Luck.
A: Yes. Your letters of appointment will likely be needed to complete the transfer.
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