Do I need a Will if I have assets in mutual funds and IRAs with named beneficiaries?

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Do I need a Will if I have assets in mutual funds and IRAs with named beneficiaries?

I have no other property or minor children.

Asked on December 21, 2011 under Estate Planning, Texas

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

It is always a wise idea for every adult to have a Will or a trust as opposed to passing away without a document setting forth one's wishes as to who is to receive the assets of one's estate. Failure to have a Will or trust upon death results in the state of one's residence through intestacy to set forth who receives the deceased's assets.

Even though you may have assets in mutual funds and IRAs with named beneficiaries, I suggest that you consult with a Wills and trust attorney about a Will or trust for you.


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