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Attorney2020, Attorney
Category: Estate Law
Satisfied Customers: 2578
Experience:  Estate planning and wealth preservation attorney.
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I have inherited a large mutual fund account how can I keep

Customer Question

I have inherited a large mutual fund account how can I keep out of probate
Submitted: 11 months ago.
Category: Estate Law
Expert:  LawTalk replied 11 months ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today. In order to give you a clear and concise answer, I will need some additional information about the circumstances, please.

1. How did you inherit it---through a will, or was it perhaps a Pay On Death/Transfer on Death account?


Customer: replied 11 months ago.
It was thru a will
Customer: replied 11 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  LawTalk replied 11 months ago.


As you have asked for a phone call, I will offer you that Premium Service and I'll process that offer to you after I get this posted to your question thread.

After you accept my offer of the phone call, would you please provide your phone number? After you do that, please send me a quick Reply to let me know that you have posted the number, so I can call you.

Thanks in advance,


Customer: replied 11 months ago.
No thanks on the phone
Expert:  LawTalk replied 11 months ago.


If the inheritance is through a will, and because a will can only be given legal effect through a probate action, it is not possible for you to get at the fund without going through probate. I am sorry.

I understand that you may be disappointed by the Answer you received, as it was not particularly favorable to your situation. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so.

If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction.

Would you please take a moment to positively rate my service to you based on the understanding of the law I provided by clicking on the rating stars---three stars or more. It is that easy. That is the way I am compensated for having helped you.

Thank you in advance. I wish you the best in your future,


Customer: replied 11 months ago.
It was from a trust
Customer: replied 11 months ago.
It was originally in cash I had rolled into a wealth management account
Expert:  LawTalk replied 11 months ago.

Trust proceeds are not distributed through a will. You said you got it from a will.

Customer: replied 11 months ago.
I don't know but the bank broke up the trust accont
Expert:  LawTalk replied 11 months ago.

I am unable to further assist you in this matter, and I am going to opt out of your question and open this up for other professionals.

Your question is being placed back in the question list for other professionals to see, and to respond to. You do not have to stay online for the question to be active. Should another professional pick it up, you should be alerted by email unless you actively disable this feature.

There is no need for you to reply at this time as this may "lock" your question back to me, thus inadvertently delaying other professionals' access to it.

I apologize for any inconvenience and wish you well in your future.


Customer: replied 11 months ago.
Good idea my father had this set up so that no taxes were paid by us the children yes I think you should opt out
Expert:  Attorney2020 replied 11 months ago.

Did the bank give you a reason for breaking up the trust account?

Customer: replied 11 months ago.
It was by the will on the death of my mother which a lawyer looked over
Expert:  Attorney2020 replied 11 months ago.

Okay, what is your goal now? I will tell you now there is no secret way to keep assets out of probate if the assets are not funded in a trust.

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