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J. Warren
J. Warren, Attorney
Category: Estate Law
Satisfied Customers: 2245
Experience:  Experience in estate planning including wills, trusts and succession planning.
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My parents' will states that all assets are to be split

Customer Question

My parents' will states that all assets are to be split equally among their
five children after both have died (see below). My Dad died two years ago.
My Mom has some bank and investment accounts that are "in trust with" either me or
my sister. My Mom wishes that ALL of the assets in these accounts go to me or my sister
after she dies and NOT split equally among the five children. Indeed, it's my
understanding that "A in trust with B" means that B gets ownership of the account after A dies.
So there's a contradiction here. What takes precedence? The provision in the will
or the "in trust with" stipulation on the bank and investment accounts?
The exact language in the will is:
"Should my husband predecease me, ...
I give, devise and bequeath all the rest, residue and remainder of my Estate,
be the same real, personal or mixed, of whatsoever name or nature and wheresoever
situate, unto my children, [ five children specifically named ], in equal share,
share and share alike, or to their issue, if any, per stirpes. "
Submitted: 1 year ago.
Category: Estate Law
Expert:  J. Warren replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

A Last Will and Testament only distributes assets that are subject to probate. Assets that are held payable on death, jointly, in trust or in any other means transfers by operation of law after death are not subject to probate and therefore are not controlled by the provisions of a Last Will and Testament.

All my best and encouragement.

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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have intricacies in their laws and any information given is simply information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you.

Expert:  J. Warren replied 1 year ago.

Can I answer any additional follow up questions for you or clarify anything I have written above? If not, can you please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter? Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).

Expert:  J. Warren replied 1 year ago.