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Sunny409

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  1. You seem to have missed my sentence, " the adults could (and would) make up the difference of the children's refused IRA inheritance amount by each gifting both children." I'm not trying to "deprive" my children of anything. To the contrary, I'm trying to save each of them a few thousand from being spent from their inheritance to set up the Conservatorship. Are you an attorney? Going to court is not a "simple procedure". This answer was not in the least bit helpful. I'm trying to find out if I can legally refuse their inheritance for the IRAs.
  2. I and my children are in CO. My uncle in TX left a mix of 3 IRAs at 3 different firms, a trading account, and cash to me and my two children, his sister, brother and a friend (who is the Executor). In CO, if a minor inherits over $12K, a Conservatorship has to be set up - at a cost of $2-3K per child. They are getting about $69K each. But IF I can refuse their IRA inheritances (totaling $48K each), the adults could (and would) make up the difference of the children's refused IRA inheritance amount by each gifting both children. I REALLY want to avoid the court hassle, time and cost of setting up Conservatorships. Can I refuse my children's inheritance on the IRAs? One is at an insurance company, and another is at a brokerage firm. Thanks
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