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?

Related Topics:
1 Lawyer Answer
Ben Corcoran
Ben Corcoran
  • 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.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.