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Question

are bank accounts that are left "in trust" for someone or insurance policies w/ a beneficiary entered into the estate for probate?

Submitted: 482 days and 13 hours ago.
Category: Estate Law
Value: $30
Status: CLOSED

Accepted Answer

A "pay on death" (POD) account (i.e., an account belonging to the decedent that names a beneficiary on death) generally avoids probate, as does an insurance policy with a named beneficiary.

Some jurisdictions may alter the the POD rules, so you may need to check with a local attorney. However, insurance policy transfers are uniform everywhere in the USA.

 

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Edited by socrateaser on 7/29/2008 at 12:24 AM

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Expert: socrateaser
Pos. Feedback: 100.0 %
Accepts: 
Answered: 7/29/2008

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