What to do if my mother passed a couple months ago and had an IRA but there are no beneficiaries listed?

Now I am being told that there are 2 ways to go: administrative and non-administrative. I know I have to file at the court house but which to choose. What rights would I be giving up if I went the non-administrative way. There is no Will or other estate.

Asked on June 27, 2014 under Estate Planning, Pennsylvania

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If yout mother passed without a Will or trust in place then you have to file a petition to administer her estate in the county where she died in order for you to obtain her assets per a court order. You have to administer her estate because the bank where the IRA is will not transfer funds to you absent a court order. You should consult with an attorney in your locality. One can be found on attorneypages.com.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.