Legal Question in Wills and Trusts in Missouri

Bank Certificates of Deposit

Hello:

If a Certificate of Deposit names a beneficiary, does the CD need to go thru Probate Court at the owner's decease? The bank tells me the CD will go directly to the named beneficiary and does not need to go thru Probate. Is this correct?.

Thank you,


Asked on 3/27/06, 4:23 pm

1 Answer from Attorneys
Bryan Lade None

Re: Bank Certificates of Deposit

The bank is correct. A CD will transfer on death to the named beneficiary, without becoming part of the probate estate.

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Answered on 3/27/06, 5:44 pm


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