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The will clearly shows the intent to split assets equally among all sibling's but the beneficiary named on all accounts is one sibling who is also executor. What happens to all the money?
Wiki User
∙ 14y ago
There are several missing details in your question. Generally, a joint bank account passes automatically to the other joint owner when one owner dies. However, a joint bank account does not necessarily pass to the surviving joint account owner if the account was arranged as a joint account only for purposes of convenience; so the other joint holder could perform the banking and bill paying tasks for the primary account owner. In that case, even though it is listed as a joint account, it would become part of the estate and pass according to the terms of the will.
However, there is another way a bank account can be set up to pass to a beneficiary on the death of the owner. If the owner executed a payable on death directive with the bank, the account will be paid over to the named beneficiary and bypass probate. Even if all the other assets of the testator are divided equally among the heirs in the will, a payable on death account would pass to the beneficiary named in the bank records. The existence of the arrangement at the bank is evidence the testator wanted that bank account to pass outside of probate.
If you have any doubts you should discuss them with the attorney who is handling the estate.
Wiki User
∙ 14y ago
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Does Beverly clearly have siblings?
no she is an only child
Is the executor entitled to a commission on the house in New Jersey if it is clearly left to a specific person in the will?
is the executor in new jersey entitled to a commission on a house if it was left to a specific person in the will
What can you do if the other executor does not want to act?
You should submit a petition to the court to have the co-executor removed. Explain your reasons clearly and provide evidence of examples of their failure to perform their duties.
I'm executor of my parents will. A sibling was added later as co-executor. Their intention was for the co-executor to assist me but for me to have final approval. Is that true or are we now equal?
You are not the executor until you have been appointed by a court. Court appointed co-executors generally work together as a unit unless other intentions are clearly stated in the will. You need to seek clarification from the court.
When an insurance company states an individual is the beneficiary when the individual was never listed on the policy what steps need to be taken in this situation?
If the individual is the beneficiary then clearly he was place as beneficiary with legal documents at some point. The only way around this contractual agreement is if signatures were forged which would nullify the contract.
How do you find all accounts that are synced to Google?
Please mention the question clearly.
How do you remove an executor of an estate in South Dakota?
Although it is not an easy process if you have serious complaints regarding the executor of an estate you should state your reasons clearly in a motion to the court and ask to have the executor removed. If you're successful the court will appoint a new executor. Remember that there must exist a serious reason for the removal, family disagreement will not rise to the level required for removal. You may need to retain an attorney to represent you. You can read more about it at the link provided below.
I am sole beneficiary and trustee refuses to act in my favor as Will clearly states it is for my maintenance and support wont let me see trust information and dangles it above my head what can I do?
As beneficiary, you have the right to almost all-trust related documents and information. Furthermore, if you are indeed the sole beneficiary and sui juris (older than 18 and of sound mind), you can apply to the court to have the trust dissolved and the assets transferred to you.e
How do you write a beneficiary letter?
To write a beneficiary letter, begin by addressing the recipient and explain the purpose of the letter. Clearly state why you are naming them as a beneficiary and what they are entitled to receive. Be sure to include any necessary details such as account numbers, policy details, or instructions on how they can access their benefits. Conclude the letter with any additional information or well-wishes you would like to convey.
If you already have a will but want to change the executive of the will can you just get a codicil done and then it would be ok when you die?
Yes. You could make a change in the executor by using a codicil. The codicil should take the same form as the will with the same number of witnesses and with an acknowledgement. You should state clearly your intentions by declaring that you intend to strike the article that appointed the executor and substitute a new article naming the new executor. You should have the change supervised by an attorney.
What are your rights as the adult child of the decedent if an executor is already named in the will?
The named executor must be appointed by the court. If you object you have the right to file an objection with the court within the time frame on the notice that the will has been presented for allowance and appointment of executor. You should prepare a well written objections that clearly explains your objection and also requests that someone else be appointed. You should consult with an attorney who can review the situation and explain your rights and options.
Where do you get a form to replace the executor of a will before death?
A testator can make changes to their will by using a codicil. A codicil is written in the same form as a will and should clearly explain its purpose: which provision in the will is being stricken or what provision is being added. The codicil must clearly state the added provision if there is one. In the case of changing the named executor the codicil must state the section appointing (name) as executor is hereby stricken and is replaced with the appointment of (new name) as executor. Wills and codicils should be drafted by professionals to make certain they conform to state laws. If legal documents do no conform to state law they may be deemed invalid.
