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Ellen, Attorney
Category: Estate Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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If a primary beneficiary dies before you or the last surviving

Resolved Question:

If a primary beneficiary dies before you or the last surviving joint owner, his or her share of the accounts covered under the Plan will be divided proportionately among the surviving plan beneficiaries. My brother divided his estate to three primary beneficiaries. 34%, 33%, 33%. One person died within two weeks of my brother. Do the surviving beneficiaries split his portion 50-50 or does his portion go to that person's heirs?
Submitted: 8 years ago.
Category: Estate Law
Expert:  Ellen replied 8 years ago.

The portion goes to the heirs of the decedent beneficiary absent language in the Plan to the contrary.

Joint tenancy is a survivorship type of ownership. The ownership transfers as of date of death.

Customer: replied 8 years ago.
I don't understand. Are you saying that since my brother died before one of the benefficiaries on the trust, then that persons heirs get his 34% portion and the money does NOT transfer to the other beneficiaries?
Customer: replied 8 years ago.
This has nothing to do with joint tenancy. This is a trust. This is my brother's trust who recently died. After he died, then one of the beneficiaries died. Does his portion go back into the trust to be split by the remaining primary beneficiaries, or does it go the the primary beneficiary who died's heirs?
Customer: replied 8 years ago.
I don't like this very much. They already took my $15.00 AND i NEVER GOT A REPLY TO MY REPLY/ What a rip off.
Expert:  Ellen replied 8 years ago.

I was off line when you responded. I am on the east coast. I also have not been paid yet and will not be until you click accept.

You characterized the ownership as joint: "last surviving joint owner". If it is joint, then the interest passes to the three beneficiaries. The deceased beneficiary's share passes to his heirs.

It the ownership is something other than joint, you can post me back.

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