If my brother died without a Will but I was named as beneficiary of his accounts and not his children, who gets that money?
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If my brother died without a Will but I was named as beneficiary of his accounts and not his children, who gets that money?
He had a son and daughter. His money was in a credit union; I went to his job to verify the fact that I was the only benificary.
Asked on March 31, 2012 under Estate Planning, Ohio
Answers:
Patricia F. Bushman / Bushman & DuBose, LLC
Answered 12 years ago | Contributor
Insurance proceeds, some bank accounts, and some retirement accounts pass outside of probate and are not controlled by a will. Therefore, the beneficiary listed by your brother is the person who takes the assets. The assuption is this is what he intended.
Steven Fromm / Steven J Fromm & Associates, P.C.
Answered 12 years ago | Contributor
Legally, you get them and they overrule anything in the will. However, what you need to do morally is another story.
David A. Looney / David A Looney Co. LPA
Answered 12 years ago | Contributor
The beneficiary listed on the accounts trump a will, or no will. As long as you brother was of sound mind when he created the accounts, they will go to you.
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