Legal Question in Wills and Trusts in Massachusetts
Benificiary v. Executrix
A CD with daughter listed as the benificiary was cashed in by the executrix of the farther's estate. The daughter, knowing that this would not become part of the estate asked the executrix not to cash in CD as she wanted it to be rolled over until after she got out of college. Was the bank wrong? Daughter pays taxes on CD which is under her SS#.
2 Answers from Attorneys
Re: Benificiary v. Executrix
Attorney Lebensbaum is correct. If daughter is listed as sole beneficiary of the CD, then CD was improperly delivered over to the estate.
If there was no beneficiary designation, then the CD is properly included within the persons testate or intestate estate.
Please feel free to contact me should you have any further questions, or to set up a free consultation.
Re: Benificiary v. Executrix
If the CD was such that the daughter was a direct beneficiary, it could have been one that the executor could not have touched it all. You should check the exact wording on the account, and let me know.
However, if it was part of the estate, then the terms of the will and state law controls the executor's conduct.
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