Another beneficiary question

[kattbird]

What is the name of your state? MD

Mom's companion died 2 1/2 months ago. The checking & savings account he had was joint wit her (even though she didn't contribute anything to it). She has closed that account and put the money in her own account. She also inherited a brokerage account worth about $300,000 which had TOD on the papers (transfer on death) to her name and a CD at the bank that was POD (pay on death) to her name also. He has a daughter that in his will says she is to get nothing. We think she may be contesting the will (we think she's after money because she said she knew dad had a lot of money even though she hasn't spoken to him in over 3 years).

My question (finally) is does she have any chance of getting any of the money/cd/brokerage account since mom was the beneficiary on the accounts?
Thanks

 

[Dandy Don]

No.

Does the will give a specific reason as to why the daughter has been disinherited?

 

[anteater]

The daughter's odds would appear to be pretty long. She has to hit the daily double. Knock out the will and invalidate the joint wonership/beneficiary designations.

My question (finally) is does she have any chance of getting any of the money/cd/brokerage account since mom was the beneficiary on the accounts?

Sure, she has a chance. Maybe not a very good one. The jointly-owned checking and savings accounts would be fatter targets than the accounts with beneficiary designations. Don't know what MD statutes and case law says, but she could argue that those accounts were really for convenience only and should be part of the estate. But, then, she would also have to get the will voided so that the estate would be distributed under MD's intestate succession statutes.

Sounds like a long shot, but it ain't over until the fat judge sings.

 

[anteater]

No.

Does the will give a specific reason as to why the daughter has been disinherited?

The will does not have to.

 

[Betty]

The will does not have to.

Agree, it doesn't matter what the reason is as long as the will comes right out & says she is to get nothing.

 

[kattbird]

We don't know why the relationship didn't really exsist. The will says mom inherits all the contents of the house and his personal belongings (which includes 2 vehicles). The house is to be split between mom and 2 of his cousins. And again the will says he leaves his daughter nothing. He never talked about her to mom. Even his family is not really sure why he pretty much disowned her.

 

[Betty]

It is very doubtful she will get anything as per the will's instructions excluding her from any assets.