Legal Question in Wills and Trusts in New York

Re: Savings Bonds Beneficiary

Moral dilemma. Unless the accounts were placed in this registration as an accomodation to your mother (such as to give you access to the accounts/assets in case she were incapable of getting to them herself or for some other reason explained between you and her), by law the registration controls the disposition and you would be entitled to the proceeds of these assets by operation of law even if the Will says otherwise. As named beneficiary they pass outside the Will and the probate process and you can claim them directly. If your brother refuses to deliver the documents you can sue to compel him to do so. You do not say if there was any special reason this was done originally, which might no longer exist, that would entitle your siblings to contest the registration. Assuming no reason, just that your mom wanted you to get more than the others, assert your legal rights. But, sometimes family relationships are worth more than money. This is your moral decision on what is more important.

Re: Savings Bonds Beneficiary

If you are the named beneficiary on the Savings Bonds and POD accounts, legally those assets pass to you upon the death of the owner. You need to contact the bank where the account is held and obtain the claim forms. Your brother should provide you with the original savings bonds.

If you decide to share the proceeds of these assets with your siblings that is your decision. However, you are under no legal requirement to do so.

For more information, please contact me at (716) 856-4022. Thank you.

Re: Savings Bonds Beneficiary

Any assets held jointly or with a named beneficiary or POD pass on the death of the grantor or joint owner.

They are only considered part of the estate in determining estate tax.

If you need any more information, feel free to call me at 914-478-2981 for a no cost initial telephone consultation