In 2017, my great aunt passed away and she left her estate and retirement account (an IRA) in a will to myself and family members. She was nearly 80 years old and she lived in California. Within one-year monies were distributed for the sale of her home. But the will distribution for her standard IRA has dragged on for the last few years. When my family members make inquires to the lawyer as to why it's taken so long for distribution, he claims that he's waiting for a form from each of the beneficiaries that show a signature that we've received a K1 tax form. In fact, he's been adamant that we quickly file taxes on the IRA before he distributes the funds before we've received the funds from the IRA. He's now had the requested signed for several weeks, but he does appear to be proactive in getting things done.
Admittedly, I'm ignorant of probate laws. But does it sound like the lawyer is following standard protocol, or does this sound fishy? Does inheritance IRAs need to be settled in a specific timeframe?
