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Roger, Attorney
Category: Legal
Satisfied Customers: 31560
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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My mother died in June and I am trying to get some questions

Customer Question

My mother died in June and I am trying to get some questions answered. I have a copy of her will and it states that I am to receive 25% of her estate. There are some stocks that my brother managed which I am to receive 10% of her Ameritrade. Doesn't the will supersede the stock account%
JA: What state are you in? It matters because laws vary by location.
Customer: Unfortunately California
JA: Has anything been filed or reported?
Customer: There is a small will that is in process and I have received paperwork from my brother concerning the Ameritrade account. Other than that I'm not sure.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Not that I 'm aware of.
Submitted: 5 months ago.
Category: Legal
Expert:  Roger replied 5 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

The will would govern how your mom's estate is to be divided (once you put it through probate). However, your mom's stock account could bypass her estate. This can occur if your mom's stock account had a named beneficiary, survivorship provision, etc.

Expert:  Roger replied 5 months ago.

So, you would have to determine if the stock account has a POD or survivorship provision....if so, that account would bypass the estate and go straight to the named beneficiary.

Expert:  Roger replied 5 months ago.

Even if the will outlines how the account is to be divided between the heirs, if the account was payable on death to a certain person, the terms of the stock account would control....and would bypass the will.