Does a payable on death designation trump a Will?

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Does a payable on death designation trump a Will?

Can anyone just take the money even if the Will left me as the executor and the Will left everything to me?

Asked on January 18, 2012 under Estate Planning, Washington

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  I know that this can be a very confusing issue at a very upsetting time.  But if a decedent fills out a a POD - payable on death - for an acount it is considered to pass outside the WIll, meaning that it is not an asset of the decedent to be distributed through the Will.  So yes, it would "trump" the Will as you have put it here.  Good luck. 


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