Legal Question in Wills and Trusts in Florida
Does a third person who is listed as benificary on a mutual fund investment have rights to that investment even if the Will does not mention that person in it - upon death?
Asked on 3/06/10, 3:41 am
2 Answers from Attorneys
Richard Stoffels
Stoffels Law Group
yes, to the degree that the beneficiary designation gives him/her a certain percentage, e.g. 1/2, 25% etc. If there is a beneficiary designation that the mutual fund company recognizes, the asset transfers on death and is not a probate asset.
Answered on 3/11/10, 4:47 am
Lesly Longa
Longa Law P.A.
Yes. It does not pass through probate like other assets covered by the will.
Answered on 3/11/10, 6:42 am
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