Divided Michigan Panel Finds IRA Is Not Asset Of Man’s Estate

(July 15, 2019, 11:37 AM EDT) -- DETROIT— A 2-1 Michigan appeals panel on July 2 upheld a probate court judge’s decision to award summary judgment to a woman who was the beneficiary of her father’s individual retirement account (IRA), finding that the proceeds of the account were not an asset of the estate because the decedent did not take steps to change the beneficiary status of his one daughter after opening a new account (In re:  Estate of William Patrick McNeight, No. 340777, Mich. App., 2019 Mich. App. LEXIS 3741)....

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