Cary, NC asked in Estate Planning for North Carolina

Q: If a Will is separate from an IRA of a decedent, should the Executor of the Will be giving beneficiaries IRA info?

The Will does not include the IRA. It is separate from the Will. The spouse is the sole beneficiary named in the IRA. The Spouse disclaims a portion of the IRA and the children now are beneficiaries of the portion disclaimed. The Executor of the Will wants to disclose to the children all of the financial information having to do with the IRA. I am the spouse and do not think it is appropriate to give the IRA information to the children. The Executor also wants to provide a copy of the beneficiary designated information that was signed in 2001 when my husband did not have a spouse. I think this is opening a can of worms. The Executor feels that he has to disclose all of that information. What information should the Executor provide to the children? I thought the Executor had a fiduciary responsibility for the Will only. What can I do to get the Executor to not provide financials of the IRA and yet provide just enough information in a way that isn't going to cause problems?

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1 Lawyer Answer
Ben Corcoran
Ben Corcoran
PREMIUM
Answered
  • Estate Planning Lawyer
  • Yadkinville, NC
  • Licensed in North Carolina

A: Without reviewing the IRA documents, I cannot answer this question because it depends on the IRA distributions' specific language. By disclaiming a portion of the IRA, you may have placed that portion in the estate. That being said, my first impression is that what is in the IRA or any of the documents should be disclosed. But depending on the language, it may be necessary.

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