Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. Ray here to help you tonight.
No a bank account here with a named beneficiary passes by contract here outside probate.For the will to control the beneficiary has to be the estate or no beneficiary.Here there was one named so it passes by contract.The will only controls estate assets, this isn't part of the contract here since it has such a named beneficiary.
It is the sole property of the named beneficiary here, creditors cannot access it either.By contract here inFlorida it is their money once paid by the bank.The beneficiary need only file a death certificate with the bank.
I appreciate the chance to help you tonight.Please let me know if you have more follow up here, it is not a problem.
If you can 5 star rate when we are done it is much appreciated,
Probate administration only applies to probate assets. Probate assets are those assets that the decedent owned in his or her sole name at death, or that were owned by the decedent and one or more co-owners and lacked a provision for automatic succession of ownership at death.Here there were named beneficiaries.