Legal Question in Wills and Trusts in New York
gay partner/will/power of atty.
My partner put my name down to
receive her IRA should anything
happen to her but she never
changed her will in which she
left everything to her son (this was
over ten years ago). Which takes
president? We are now filling out
domestic partnership papers.
Which takes presidence?
1 Answer from Attorneys
Re: gay partner/will/power of atty.
Specifically designated assets registered jointly (such as joint bank accounts or brokerage accounts) or which designate a named beneficiary (like retirement plans such as an IRA or designating a beneficiary in a life insurance policy) take priority over a Will, regardless of the contents of the Will. However, if the Will is not changed also, expect some resistance by the Will beneficiaries seeking to contest the inconsitency. I suggest either a new Will or a Codicil, merely confirming what has happened regarding assets not covered by the Will to avoid the possibility of problems later.
Related Questions & Answers
-
Will Is it legal to leave your child ''a minor ''off your will. Asked 9/11/07, 11:54 am in United States New York Probate, Trusts, Wills & Estates