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

Get Legal Help Today

 Secured with SHA-256 Encryption

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

Answers:

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.
 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption