In Missouri do PODs/TODs take precedence over the beneficiary designates in a Trust?

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In Missouri do PODs/TODs take precedence over the beneficiary designates in a Trust?

If the sole surviving parent dies and has a trust with designated beneficiaries,
but also has numerous IRAs, bank accounts, life insurance policies and annuities
which are not a part of the trust and have their own PODs or TODs, which article
takes precedence? Does the trust beneficiaries override the PODs/TODs of the
IRAs, bank accounts, life insurance policies and annuities?

Asked on March 29, 2017 under Estate Planning, Missouri

Answers:

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

Answered 4 years ago | Contributor

POD's, TOD's, IRA's and the like which specifically designate a named beneficiary, are not part of a deceased's estate. Accordingly, the listed beneficiary is entitled to the proceeds. A Trust or Will has no effect on this.


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