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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 53950
Experience:  29 years of experience practicing law, including tax and estate planning.
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My Dad passed away this past April and had a small income

Customer Question

My Dad passed away this past April and had a small income generating account with ***** *****. My brother's trust is the named beneficiary on the account. Shouldn't the account simply pass on to the trust upon presentation of the death certificate to ***** *****?
Submitted: 4 months ago.
Category: Estate Law
Expert:  Richard replied 4 months ago.

Good morning. My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Customer: replied 4 months ago.
Ok
Expert:  Richard replied 4 months ago.

Yes, it will pass automatically. Certain assets pass outside probate and thus are not governed by the will and thus do not require probate. These include the following: i) joint brokerage and bank accounts which vest automatically in the surviving owner upon the death of one owner; ii) real property held as joint tenants or tenants by the entirety, which also vest automatically in the surviving owner upon the death of one owner; and iii) assets with designated beneficiaries other than the estate such as life insurance and retirement accounts. This account you reference is one of these type assets and is not governed by the will and does not require probate. Rather, it simply is transferred directly to the named beneficiary.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Customer: replied 4 months ago.
Thx..can I get your response in an email?
Expert:  Richard replied 4 months ago.

If you will provide me your email address, I'll be happy to send it to you by email. :)

Customer: replied 4 months ago.
Expert:  Richard replied 4 months ago.

Thanks! It's on the way! :)

Customer: replied 4 months ago.
Thx..have a good day!
Expert:  Richard replied 4 months ago.

You're very welcome. It's been my honor and privilege to help you with this. If I can help you in any way in the future, I'll be happy to help. For easy access, my bookmark is: www.justanswer.com/law/expert-legalbeacon/ . Or, simply request “Richard only” in the first line of your question.

Expert:  Richard replied 4 months ago.

If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Good or Excellent).Otherwise, I receive no credit for assisting you today.

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