estates and mutual funds

[XConfused]

What is the name of your state? Ca. If my father inherites money from his parents and invests it in a mutual fund, and then passes himself. Does that money become his estate, or does it become community property of his current wife.

 

[seniorjudge]

Q: If my father inherites money from his parents and invests it in a mutual fund, and then passes himself. Does that money become his estate, or does it become community property of his current wife.

A: It would depend on how the fund is titled and who the beneficiary is on the fund.

 

[XConfused]

mutual funds

Ia a mutual fund ever considered a retirement fund

 

[seniorjudge]

Q: Ia a mutual fund ever considered a retirement fund

A: Considered by whom? Cut to the chase; tell you what you need to know. And tell us who the beneficiary is on the mutual fund and exactly how it is titled.

 

[XConfused]

Mutual funds

My father passed he has a trust and a will, with life insurance annuities community property retirement plans left to his wife. He inherited some money before his passing that he invested in a mutual fund. That is why I want to know, his current wife is the first truste of his estate, and had blown thru 30,000 in a month. Can we stop her? Dad would not approve he was very conservative. Just wishful that the mutual fund would fall into his inheritance fom his parents, and could be saved from a would be spending and gambling spree.

 

[nextwife]

Q: Ia a mutual fund ever considered a retirement fund

A: Considered by whom? Cut to the chase; tell you what you need to know. And tell us who the beneficiary is on the mutual fund and exactly how it is titled.

Sure. The mutual funds I hold in my IRAs and 401Ks are retirement funds. The mutuals I have outside of ROTHS, IRAs and 401K are NOT retirement funds.

Next question?

 

[XConfused]

Please refere back to my last post. We must have posted at time same time!! Thanks Im cutting to the chase as u suggested.