Legal Question in Wills and Trusts in California
529 accounts
My wife's father passed away and the account ownership for the grandkids 529 accounts passed to my wife, per her father's wishes. Her father's wife is trying to claim these accounts. What grounds does she have and how would she go about it? The accounts appear to have been funded with separate and potentially community property. Is this handled as part of probate or separately? Thanks.
1 Answer from Attorneys
Re: 529 accounts
Generally, if an account has a named beneficiary, it is handled outside of Probate.
The community property issue can arise, however, and may be able to bring them back in with some clever wording should her father's wife retain counsel.
Is there a Probate for the estate now? If so, why? Was there a will? Was there a trust?
If you would like to dicsuss this in a private forum, please feel free to contact me at the email provided by LawGuru or through our firm's website PasadenaEstatePlanning.com.
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