Legal Question in Wills and Trusts in Arizona
beneficiary versus last will directions
my husband had moneyaccounts, cds and other accounts with money in them this was his divorce settlement. he passed away without changing the beneficiary on those accounts from his ex wife. i have his will and left all his assets to me. i have been assuming that the stated beneficiary of those accounts took president over his last will and testament. have i been wrong????? his divorce was in virginia, our wills were done in texas and he died in arizona. we traveled in motorhome. thanks mary
1 Answer from Attorneys
Re: beneficiary versus last will directions
Normally, the will would not govern bank accounts which pass by automatic beneficiary (or P.O.D., ie Pay on Death) designations. The funds would be paid by the band directly to the beneficiary under the contract terms of the bank account. However, it may be that virginia law holds that a divorce automatically severs all such beneficiary sdesignations. Consult with a Virginia estate attorney immediately on this question. Then, how Arizona law would affect the case would be the next question. I cannot answer that at this time. You need to fully consult with a Virginia attorney, then have a comprehensive consultation with an Arizona attorney. Good luck.
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