Legal Question in Wills and Trusts in Minnesota
My siblings and I recieved a POD cd upon our step fathers death. His bio children did not. There are still assets to be distributed equally between us all. Can his bio children sue his stepchildren for the cds we recieved upon our father's and step father's death?
1 Answer from Attorneys
No, they cannot sue for the CD's proceeds. A CD is contractual in nature and not subject to probate if it's a POD disbursement....similar to life insurance proceeds. Your step father's beneficiary designation must be honored and the only way that they may bring an action for the proceeds is if they are claiming that you and/or your siblings unduly influenced your step father into the beneficiary designation or changing the beneficiary designation, which, in practice, is quite an uphill battle.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
