Saturday, 21 February 2015

If there are named beneficiaries on accounts, does a will override that? Specifically brokerage accounts or investment accounts. Will a pers...

Question

If there are named beneficiaries on accounts, does a will override that? Specifically brokerage accounts or investment accounts. Will a person named in a will be able to make claims against it?



Answer

If properly listed as beneficiaries on an account, the funds or assets pass by operation of law at death. The will has no effect on those assets or their transfer



Answer

My colleague is absolutely correct.



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