Legal Question in Wills and Trusts in Colorado
My fathers will with all assets and estate and me being personal represantive... the will drawn in 2007 the old pod being in place as of 03 when acct opened? does the will supercede this old pod?
Asked on 10/24/11, 5:41 pm
2 Answers from Attorneys
John Campbell
Law Offices of John J. Campbell, P.C.
A Pay On Death designation on a bank or investment account will result in a non-probate transfer of the account to the named beneficiary. Since the transfer goes outside of probate, it is not governed by the terms of his will.
Answered on 10/24/11, 5:48 pm
Bernard Greenberg
KOKISH & GOLDMANIS, P.C.
The POD will generally control. However, there are exceptions to this under Colorado law, such as if your father got divorced and the POD beneficiary was his ex-spouse.
You should consult with an attorney who specializes in this area for more specific information.
Answered on 10/24/11, 6:47 pm
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