Legal Question in Wills and Trusts in Illinois
cd's
Mother puts cd's in two sons name
one son dies before she does Her
Will states her estate to be given to decendents should a son precede her in death. If deceased sons will states his wife is to receive his portion of his estate does she then receive the cd's with his name on them?
3 Answers from Attorneys
Re: cd's
IT depends on how the CD's are in the two sons name. If it is in son A & Son B with right of survivorship and son A dies it goes to Son B.
If it is in Son A and Mother with right of survivorship it goes back to mother. Will need further clarification on how the CD's were vested
Re: cd's
First of all, it depends how the bank account was set up. If the CD was in your mother's name/social security number, it would become a part of her overall estate, and would pass through her will.
If it was set up in your brother's name/social security number, it would pass according to his will.
Good luck to you.
Re: cd's
It depends on exactly how title was sound. It sounds like it may have been held in joint tenancy with right of survivorship. IF that is the case, then when one son died the CD's passed to the other surviving son directly, outside of the deceased son's estate.