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Will vs Names on Accounts

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structuraleng

Junior Member
What is the name of your state? DE & PA
This will hopefully be a simple, straightforward question. I have a family member hwo lives in Delaware (I and one family member live in Pennsylvania, others live in Delaware).
The person living in Delaware (who is the subject of this post) has a will from approximately 25 years ago which leaves her entire estate to a single person. She is very old and does not want to deal with a lawyer to change this and has made an attempt to circumvent the will by adding a single family member to certain accounts (based on how she would like her money distributed).
Can anyone comment on what would be expected to happen in this case? Would the money in the account be joint assets subject to distribution per the will (i.e. would half go to the second person on the account and half to person named in the will to receive the entire estate?)?
I do appreciate any insight or helpful advice you can give.
 


curb1

Senior Member
It depends on how the accounts are titled. If they are POD (paid on death) accounts, they will take precedence over what is in the will. It is a way to quickly distribute assets as long as the person was of sound mind and not coerced into this action.
 

curb1

Senior Member
You asked, "Why does this EXACT question come up so frequently?"

Because it is a good question. The ramifications (of POD accounts) are serious. There are quite a few people who don't understand the power of a POD account. Many elderly don't know that these accounts can create family fights when they die, which is usually not their intention.
 

Zigner

Senior Member, Non-Attorney
You asked, "Why does this EXACT question come up so frequently?"

Because it is a good question. The ramifications (of POD accounts) are serious. There are quite a few people who don't understand the power of a POD account. Many elderly don't know that these accounts can create family fights when they die, which is usually not their intention.
You are missing the point. This question has been asked, AND ANSWERED many times in the past couple of months alone. A simple search of the forum could have turned up the answer.
 

structuraleng

Junior Member
I am new to the site and don't know what a POD account is. I believe it is a typical bank account - nothing special was done for (I believe).
Also, I don't know how to use the search feature for this site.
 

Zigner

Senior Member, Non-Attorney
I am new to the site and don't know what a POD account is. I believe it is a typical bank account - nothing special was done for (I believe).
Also, I don't know how to use the search feature for this site.
Go to https://forum.freeadvice.com/forumdisplay.php?f=113 and select the "Search This Forum" link...
You have already received accurate advice on your question, so I don't think you need to search any more for it ;)
 

seniorjudge

Senior Member
Q: Can anyone comment on what would be expected to happen in this case? Would the money in the account be joint assets subject to distribution per the will (i.e. would half go to the second person on the account and half to person named in the will to receive the entire estate?)?

A: If there are two or more owners of an account, the one who survives gets the dough. The will has nothing to do with it.

(Zig...bookmark this answer; we can use it several thousand times in the next month.)
 

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