DJones112078
Junior Member
My dad recently passed away (this is in Illinois) and left a Traditional IRA with three of his four children as beneficiaries. My family agreed that my brother, who was left out, should have been listed as a beneficiary and is entitled to an equal portion of the IRA.
After talking to Schwab, they were very insistent that we need a court order to change the beneficiaries. But seeing as an IRA isn't part of my dad's estate, I'm not sure why a court order would be necessary.
Is there any action my family can pursue to change this without having to cash out the IRA? I can't imagine we are the first family to request a beneficiary change.
Thanks!
After talking to Schwab, they were very insistent that we need a court order to change the beneficiaries. But seeing as an IRA isn't part of my dad's estate, I'm not sure why a court order would be necessary.
Is there any action my family can pursue to change this without having to cash out the IRA? I can't imagine we are the first family to request a beneficiary change.
Thanks!