If 4 siblings are listed on a certificate of deposit but 1 of the siblings listed dies, do the deceased’s siblings or the deceased’s surviving children receive their share?

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If 4 siblings are listed on a certificate of deposit but 1 of the siblings listed dies, do the deceased’s siblings or the deceased’s surviving children receive their share?

Asked on January 21, 2013 under Estate Planning, Kentucky

Answers:

Victor Waid / Law Office of Victor Waid

Answered 8 years ago | Contributor

Depends on the wording of the listing of the beneficiaries on the CD as to the siblings/beneficiaries. If the wording is in the event of a deceased beneficiary, then the surviving siblings receive the CD, then they wiuld receive the asset; however,  if there was no specific wording a strong argument could be made the issue of the deceased beneficiary are entitled to receive the deceased's share as they are pretermitted heirs/issue, and are second level heirs, therefore entitled to receive deceased's share..


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