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My wife has been taken care of her dad and mom last 8 years

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my wife has been taken...
my wife has been taken care of her dad and mom for the last 8 years living with them her dad passed away 8 months ago and her mom came and lived with us and we sold the her moms house that was paid for .her mom passed away last week and there were 6 Cd's that had my wife name on them as POD just her name alone .there is no will that we know of . she has a 1/2 brother that no where that has his name on anything . does my wife keep this to her self . her 1/2 brother ask just tonight on a text when are we reading the will .. I have not text him back yet .. need your help
Submitted: 1 year ago.Category: Estate Law
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2/2/2016
Estate Lawyer: jb156200, Attorney replied 1 year ago
jb156200
jb156200, Attorney
Category: Estate Law
Satisfied Customers: 465
Experience: I am a Probate Attorney practicing in Tampa, Florida.
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A Certificate of Deposit with a Pay on Death Benefit (POD), means the owner of the CD has named a direct beneficiary of the asset and it does not have to go through probate. Since it is not a probate asset, it is not controlled by the Last Will & Testament. The best analogy is to the beneficiary of life insurance. The money goes directly to the named beneficiary.

Based on the information you provided, the 6 CD's have your wife named as the beneficiary. This means the money is hers alone. All she needs to do is go to the bank where the CD's are located with an original certified death certificate to liquidate and close the accounts. An estate does not need to be opened and no one has a legal claim to those accounts.

Please let me know if you need any clarification regarding this topic.

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Estate Lawyer: jb156200, Attorney replied 1 year ago

Also in Virginia there is no such thing as a formal reading the decedent's Last Will and Testament.

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jb156200
jb156200
jb156200, Attorney
Category: Estate Law
Satisfied Customers: 465
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Experience: I am a Probate Attorney practicing in Tampa, Florida.

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