Legal Question in Wills and Trusts in Illinois
My father died last april and in his will he stated the his four children would share equally in his assets. He lived with my sister in Ill. On his bank accounts he had my sister as"pay on demand" now my sister claims that all of dad's money is hers. Dad made it that way for his bank accounts would be collected be her because her husband was the executor of dads will. Is there anything we can do about this?
1 Answer from Attorneys
In Illinois, POD accounts ("payable on death") accounts generally trump provisions in a Will - and the presumption is that the beneficiary on such accounts is intended to personally receive the funds. However, you can still file a Court proceeding to argue that your sister has wrongfully come into possession of your father's money. However, keep in mind, this may be very difficult to prove, and would probably be an expensive undertaking for all involved. I recommend that you talk to a lawyer about this. Feel free to call me for a free consultation.
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