Legal Question in Wills and Trusts in New York
Dividing up inheritance in Will
If you are named as the sole beneficiary on an investment (annuity) and you are the executor of the will. Do you have to include the investment when dividing assets according to the will? This will won�t be probated because it only consists of a couple small accounts that are jointly held.
Asked on 4/14/07, 9:02 am
1 Answer from Attorneys
Norman Nadel
Norman Nadel, Esq.
Re: Dividing up inheritance in Will
The Will deals only with property indvidually owned by the decedent. Jointly owned property, with the right of survivorship, goes to the survivor independent of the Will. If, as you say, all property is jointly owned, with the right of survivrship, then the Will need not be probated and you will not become the Executor.
Answered on 4/14/07, 11:59 am
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