Legal Question in Wills and Trusts in Minnesota
Who gets the bank cd in a will?
MY deceased uncles will reads as follows-- (a) To my nephew Jack Smith, all motor vehicles and any personal property. (b) Irrelevant (c) All the rest, residue and remainder of my property, both real and personal, I give and bequeath to my nephews, Jack Smith and John Smith, in equal shares, to-wit: to each an undivded one-half thereof in fee simple and absolutely..... It goes on to describe how Jack has the right to purchase John's half of the real estate within 6 months of his death.
In question is a bank cd. Who should get it as no mention is made of how any money should be divided. Does Jack get it all or is it divided between Jack and John?
3 Answers from Attorneys
Re: Who gets the bank cd in a will?
The property in the automobile paragraph is usually "personal property used about my person or home...", so it would not include a cd. The exact wording could be important; but under the usual way of drafting such a document, the cd would probably be divided in the example you give.
You can't afford not to have a lawyer look over that will.
Good luck.
Re: Who gets the bank cd in a will?
Thank you for your question. Under Minnesota law, a deceased person's estate is divided into probate and non-probate assets. How the certificate of deposit will be distributed depends on whether it is a probate or non-probate asset. If the CD names a beneficiary, it is a non-probate asset and will go to the beneficiary. If it does not name a beneficiary, it might be a probate asset and would then be distributed according to your Uncle's will. I need to see the rest of the will to determine who will receive the CD. I would be happy to meet with you to review his will. Our firm does not charge for initial client conferences. I can be reached at:
Luke Robinson
Chesley, Kroon, Chambers,
Harvey & Carpenter
75 Teton Lane
Mankato, MN 56001
(507) 625-3000
(877) 599-5000 [toll free]
Re: Who gets the bank cd in a will?
Is this a joke? I can't believe someone would write a Will like this. This needs construction. There is no way a lay person can construe this will and it needs to placed into court. Furthermore that Will is basically property of the court and you should turn over to the court.
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