If my husband's brother redistributes the inheritance money, will we have to reclaim the money?

1 answer | Last updated: Sep 29, 2016
Susan8681 asked...

My husband is the beneficiary of an IRA from his father. He has agreed to split it equally with his brothers. One of his brothers is the executor of the will and wants my husband to sign the check over to him so he can deposit in his father checking account for distribution to all brothers. Will the check my husband receives from the checking account look like we are being paid new money. We are already going to have to claim the entire distribution on our Income Tax return. I don't want to have to claim it again because of the check coming from his fathers checking account.

Expert Answers

Judy and Fred co-mediate family property and financial conflicts, and each work individually as mediators as well. Judy Barber, a mediator and family business consultant, assists clients in resolving overlapping family and money conflicts so they are better able to make sound estate planning decisions. Frederick Hertz is an attorney and mediator who specializes in resolving co-ownership matters involving families, siblings, spouses, cohabitants and domestic partners.

This is a question that you should consult with an accountant about -- it should be an easy question for any accountant with estate administration experience.