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Are mutual fund accounts or life insurance policies with designated beneficiaries considered tangible assets for the purpose of dividing up in a will?

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2008-08-26 04:14:05
2008-08-26 04:14:05

Generally, no. They are disposed of by their beneficiary designations. An exception would be in the designated beneficiary was a decedent's estate, in which case the assets would pass by the terms of the Will. However, they would not be tangible assets (e.g., furniture, cars, silver, jewelry -- things you can touch). They would be intangible assets. Mutual funds generally do not have beneficiary designations. They might, however, be disposed of in a joint tenancy with right of survivorship or payable on death designation.

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