Does a beneficiary of a bank account usurp an old Will?

The Will was written 14 years ago and the beneficiary at the bank was written 1 year ago.

Asked on September 24, 2016 under Estate Planning, Maine


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Any property that has a seperately listed beneficiary, such as a bank account, 401k, IRA, etc., passes to such beneficiary upon the death of the owner. Accordingly, it does not become a part of the deceased's estate. Therefore no matter what the Will may provide as to such proeprty, the beneficiary designation controls.

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