Why do I need to turn my inherited IRA over to the estate?

My mother had an IRA and named me as the beneficiary. I am now being told, from the executor of her will, that I need to turn the IRA over to the estate since my mother left all of her "Cash On Hand" to her grandchildren to be distributed annually. I am refusing to turn the IRA over due to my understanding that an account that has a beneficiary named does not pass through the will.

Estate Planning, IRAs
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July 2016
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If in fact you are the named beneficiary of your mother's IRA, then the executor is wrong. Under no circumstances would you be required to provide the executor with the proceeds from the IRA. The beneficiary designation, assuming it names you directly, supersedes any provision in the will. Even if the will said I leave my IRA rollover or my IRA to my estate, the beneficiary designation takes precedence. I hope this helps and good luck.

July 2016
July 2016
July 2016
July 2016