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Client died before she changed beneficiary designation
on her IRA from her Trust to her only son. Only son is her only beneficiary of her Trust and he is also the successor Trustee of the now irrevocable trust.
The custodian of the IRA did re-register the IRA to the Title of the irrevocable trust. The Successor Trustee, the son, who is also the only beneficiary of the Trust wants to do a trustee-to-trustee transfer. He is having difficulty. Since he is an academic and has his own retirement funds with TIAA-CREF, he wanted to transfer it to TIAA-CREF. TIAA-CREF will not "accept" the transfer because the IRA is not actually titled in his name. I suggested that he go to a Fund Family like Vanguard and see if they will not take it. I have done this on one occasion in the past under the same circumstances [with Fidelity actually]. He does not want to take a full distribution and have to pay the income taxes. Has anyone else run into this situation with TIAA-CREF?Thank you, Toby Mandel
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