If I’m the sole beneficiary of my mother’s bank accounts but her Will states that everthing is to be decided between her 3 kids, are the bank accounts included?

UPDATED: Jul 13, 2012

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Jul 13, 2012Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I’m the sole beneficiary of my mother’s bank accounts but her Will states that everthing is to be decided between her 3 kids, are the bank accounts included?

Asked on July 13, 2012 under Estate Planning, Massachusetts

Answers:

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

Answered 10 years ago | Contributor

If a bank account has a designated beneficiary, then upon the account holder's death, the account passes to that beneficiary. In other words, it does not become part of the deceased's estate. Accordingly, the proceeds of the account need not be distributed to the heirs/beneficiaries of the estate. Rather, it is the sole property of the account's designated beneficiary.


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 lock Secured with SHA-256 Encryption