Does Will over ruler beneficiary?
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Does Will over ruler beneficiary?
My father in law passed last year and had my
husband listed as beneficiary of all his Meryl
Lynch IRA accounts. He also had my
husbands name and his on his checking and
savings accounts. His Will states that his estate
is to be divided 60/40, my husband gets the 60,
and his brother seems to think the IRA
accounts are a part of that 60/40. We have
been told by 2 different attorneys that these
belong to my husband and they are his to do
with what he wants to. Is that the case?
Asked on July 1, 2018 under Estate Planning, Alabama
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Any jointly owned account is the property of the surviving owner; it is not considered a part of the deceased's estate. In other words, it is no subject to probate. Bottom line, the IRA as well as the bank accounts go solely to your husband. What he chooses to share or not share with his brother is up to him.
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