Does a recent will supercede POD bank account?

[RunningOnEmpty]

What is the name of your state? California

Does a 2005 dated will, which bequeaths "any and all property including both personal and any household items and all the rest residue and remainder of my estate, real, personal and mixed in possession or in expectancy at the time of my death" supercede a payable on death bank account with signature card dated several years prior to the will?

 

[BlondiePB]

What is the name of your state? California

Does a 2005 dated will, which bequeaths "any and all property including both personal and any household items and all the rest residue and remainder of my estate, real, personal and mixed in possession or in expectancy at the time of my death" supercede a payable on death bank account with signature card dated several years prior to the will?

No... ....

 

[seniorjudge]

No... ....

And the reason for that is that the bank account is not part of the estate.

 

[Litigation!]

What is the name of your state? California

Does a 2005 dated will, which bequeaths "any and all property including both personal and any household items and all the rest residue and remainder of my estate, real, personal and mixed in possession or in expectancy at the time of my death" supercede a payable on death bank account with signature card dated several years prior to the will?

My response:

Actually, the answer isn't so cut-and-dried as the two writers above make it seem. The actual answer depends upon who YOU are in relation to the decedent, and who is the POD beneficiary, and who is doing the contesting.

In other words, what is the relationship to the decedent?

IAAL

 

[RunningOnEmpty]

My brother's girlfriend of 17 years passed away in May 2005. She gave him POA (medical/financial) while alive and made him executor of her will. Her will was drafted and notarized in the hospital 6 days prior to her death. She left her home to her two adult children and the rest, as noted above, to my brother.

My brother is aware that the girlfriend had a moderate sized bank account, but believes her daughter was listed as the beneficiary. He doesn't know if those funds will go to the daughter or to him. Whether or not the will would supercede the POD account.

Prior to Girlfriend's death, he closed out her checking account in order to pay her bills and funeral expenses. All funds are accounted for and the remaining funds are intact, in his possession. The bank sent their legal people over to the hospital to speak with girlfriend and to verify that she was competent and that this was her wish. They then transferred funds to my brother. The main savings account was left intact, in girlfriend's name.

My brother later turned over executorship to the GF's daughter, as he was too grief-stricken to deal with it. The kids were pushing for him to get things moving and he didn't feel up to it.

The adult children have now retained an attorney (to initiate probate) and attorney is asking my brother for a meeting and an accounting of all property and financial assets belonging to girlfriend prior to death.

My brother still has most of the personal property, other than what the adult children removed from the home. He is worried that they are trying to contest the will and is not sure what to expect from the meeting.

 

[seniorjudge]

My brother's girlfriend of 17 years passed away in May 2005. She gave him POA (medical/financial) while alive and made him executor of her will. Her will was drafted and notarized in the hospital 6 days prior to her death. She left her home to her two adult children and the rest, as noted above, to my brother.

My brother is aware that the girlfriend had a moderate sized bank account, but believes her daughter was listed as the beneficiary. He doesn't know if those funds will go to the daughter or to him. Whether or not the will would supercede the POD account.

Prior to Girlfriend's death, he closed out her checking account in order to pay her bills and funeral expenses. All funds are accounted for and the remaining funds are intact, in his possession. The bank sent their legal people over to the hospital to speak with girlfriend and to verify that she was competent and that this was her wish. They then transferred funds to my brother. The main savings account was left intact, in girlfriend's name.

My brother later turned over executorship to the GF's daughter, as he was too grief-stricken to deal with it. The kids were pushing for him to get things moving and he didn't feel up to it.

The adult children have now retained an attorney (to initiate probate) and attorney is asking my brother for a meeting and an accounting of all property and financial assets belonging to girlfriend prior to death.

My brother still has most of the personal property, other than what the adult children removed from the home. He is worried that they are trying to contest the will and is not sure what to expect from the meeting.

I still think the daughter gets it (if, of course, that's what the POD really said). If there was (on the other hand) some kind of indication that the daughter was supposed to hold it in trust for someone, then I guess it may be possible to be considered part of the estate.

That fact that the will was executed on her deathbed is troubling, but I guess the bank's employees who went to visit her could testify to her competency and whether she was competent to understand who her heirs were and competent enough to draw up a testamentary document (a will).

All said and done, however, I realize this is California, so I really don't know....

 

[Litigation!]

I still think the daughter gets it (if, of course, that's what the POD really said). If there was (on the other hand) some kind of indication that the daughter was supposed to hold it in trust for someone, then I guess it may be possible to be considered part of the estate.

That fact that the will was executed on her deathbed is troubling, but I guess the bank's employees who went to visit her could testify to her competency and whether she was competent to understand who her heirs were and competent enough to draw up a testamentary document (a will).

All said and done, however, I realize this is California, so I really don't know....

My response:

No, you're correct. I was thinking there might have been married persons involved which would have made a difference in terms of Community Property law. But, since no one was married, I adopt your response SJ.

IAAL

 

[pojo2]

Taking facts as stated only, the daughter could go to the bank and submit a death certificate and withdraw the funds when ever she wants if she is listed at the recipient of the POD.

 

[Dandy Don]

So why doesn't he just ask the bank who the POD beneficiary is? If he is the beneficiary they will pay him. If not, he can't get it by the will.

Girlfriend's daughter and her legal team probably want to know from your brother if there are other monies he had access to other than what was officially accounted for. Probably not much to worry about.