Legal Question in Wills and Trusts in Arizona
Executive of a will
Does a named executive of a will have full control over all assests left by the deceased even when a beneficiary has been named on any type of savings, IRA, or money market account
Asked on 11/24/08, 8:40 pm
1 Answer from Attorneys
Donald Scher
Donald T. Scher & Associates, P.C.
Re: Executive of a will
The Executor only has power over assets in the estate of the deceased. When a person is named in a bank "pay on death" provision of an account, or as the named beneficiary of an IRA, these accounts transfer to the named beneficiary automatically, outside of any probate (outside of the deceased's estate), by operation of law. So the answer is No.
Answered on 11/24/08, 10:52 pm
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