Question: my wife is inheriting 1/5 of her parents IRA who died last year. (Technically speaking, her Dad's estate is the IRA beneficiary and she is getting her 1/5 after it is first rolled to the estate) The broker sent us about 40 pages of forms to fill out in order to setup a beneficiary IRA to receive her portion of the IRA.
Our goal is to move the account to Fidelity at some point (ASAP), where we keep the rest of our retirement assets in order to keep our financial profile simple (less companies to deal with).
Does anyone know if she is required to first create the account at her Dad's broker and then transfer the money, or is it just possible to setup the benficiary IRA at Fidelity in the first place? I hate to give a company almost 40 pages of personal information (income, assets, employment, size of my underwear and just about everything else), if our plan is to move the money immediately anyway.
Thanks.
Our goal is to move the account to Fidelity at some point (ASAP), where we keep the rest of our retirement assets in order to keep our financial profile simple (less companies to deal with).
Does anyone know if she is required to first create the account at her Dad's broker and then transfer the money, or is it just possible to setup the benficiary IRA at Fidelity in the first place? I hate to give a company almost 40 pages of personal information (income, assets, employment, size of my underwear and just about everything else), if our plan is to move the money immediately anyway.
Thanks.