If my mom has designated me as the beneficiary of her life insurance policy, IRA and credit union account, will these things be included in her estate or are they going to go directly to me no matter what the Will says?

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If my mom has designated me as the beneficiary of her life insurance policy, IRA and credit union account, will these things be included in her estate or are they going to go directly to me no matter what the Will says?

Asked on March 18, 2013 under Estate Planning, Wisconsin

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Generally speaking, the designation of beneficiary will trump the Will.  That is true for the life insurance policy but you should double check with the institution that holds the IRA and the credit union account.  Are you a joint account holder on the credit union account or a POD beneficiary?  Either, though, will take precedence over the Will. Good luck.


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