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LegalGems
LegalGems, Attorney
Category: Estate Law
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Experience:  Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
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In my fathers will it states that monies from all accounts

Customer Question

in my fathers will it states that monies from all accounts are to be divided equally between my brother and myself. However on 4 of his bank accounts it has my brothers name as POD. does that mean that he gets all of the money for himself in those accounts or does it mean that it is payable to him and then we split it?? can not ask father who has dementia and is in hospice
Submitted: 1 year ago.
Category: Estate Law
Expert:  LegalGems replied 1 year ago.
My goal is to provide great service - if you have any questions, please ask. A follow up consult with a personal attorney is always recommended.
I am sorry to hear of your father's declining health.
A POD means "pay on death". This money passes outside of probate. The person who is named as the POD beneficiary receives the money free and clear, despite what is in the will. Since it is not a probated asset, the will's provisions will not affect that POD transfer.
However, even if one has dementia, there are periods of lucidity so that the will can be modified (via a codicil, for example) to reflect the true intentions. Many people are not aware of this very problem, and it can result in an unintended and unequal division of assets. When executing the legal document, it is important to have both an attorney and a medical provider to help verify lucidity, should the will be challenged in the future.
Another option is to change the POD on the account, making it payable in equal percentages to the intended heirs.
Expert:  LegalGems replied 1 year ago.
Sample codicil:
SAMPLE CODICIL
[date]
I, [name], a resident of the County of [county], State of [state], declare that this is the codicil to my last will and testament, which is dated [date original signed].
I add or change said last will in the following manner:
[List all specific changes or additions to the original will. Reference each section number of the will and the specific language you will be affecting. This is where you could include a bequest to support our mission. See our suggested bequest language that can assist you.]
Otherwise, I hereby confirm and republish my will dated [date original signed], in all respects other than those herein mentioned.
I subscribe my name to this codicil this [day, e.g. 1st] day of [month], [year], at [full address where signed], in the presence of [full name of first witness to codicil], [full name of second witness to codicil], and [full name of third witness to codicil], attesting witnesses, who subscribe their names here in my presence.
___________________________________
Maker
ATTEST
On the date last above written, [name], known by us to be the person whose signature appears at the end of this codicil, declared to us, [full name of first witness to codicil], [full name of second witness to codicil], and [full name of third witness to codicil], the undersigned, that the foregoing instrument, consisting of [number of pages to codicil] page(s) was the codicil to the will dated [date original signed]; who then signed the codicil in our presence, and now in the presence of each other, we now sign our names as witnesses.
_____________________________________
Witness
Address:
_____________________________
_____________________________
_____________________________
_____________________________________
Witness
Address:
_____________________________
_____________________________
_____________________________
Expert:  LegalGems replied 1 year ago.
https://www.alz.org/national/documents/brochure_legalplans.pdf - information on how legal documents can be executed despite dementia.
State bar's referral page for attorneys: https://www.floridabar.org/divpgm/lronline.nsf/wreferral6?OpenForm
https://www.alz.org/care/alzheimers-dementia-planning-ahead.asp
Expert:  LegalGems replied 1 year ago.
Here is a link to help locate an attorney:
www.findlegalhelp.org and http://apps.americanbar.org/legalservices/findlegalhelp/home.cfm
Of course, should you have other questions please do not hesitate to post here.
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