Legal Question in Wills and Trusts in California
Estate Question
Question: A Legal witnessed Will specifies that monies held in a bank account are to be evenly divided among four close relatives.
Should one of the beneficiaries die prior to signing the Affidavit required by the bank to release the funds, what happens to that one-quarter portion? Do the monies go to the estate of that person, or would the sum be divided three ways? The elderly person in question has signed a Last Will and Testament.
1 Answer from Attorneys
Re: Estate Question
It depends on what the will says. The will may state that if one of the beneficiaries dies before the person who made the will, then the bank account is to be divided among the remaining three. If it doesn't, then the deceased beneficiary's portion may "lapse" and be considered as part of the rest of the general estate. You probably need to have an attorney read and interpret the will for you.
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