Legal Question in Wills and Trusts in New York

Re: Will & Estate

A Will only governs property (whether real estate or personal) solely in the Testator's (person drafting the Will) name.

So if he/she has bank accounts with named beneficiaries, those accounts are separate contracts and pass directly to the designated beneficiaries by-passing the Will alltogether.

Re: Will & Estate

GENERALLY I AGREE WITH MIKE, SUBJECT TO AN EXCEPTION TO HIS COMMENTS ABOUT JOINT OWNERSHIP. IF A BANK ACCOUNT OR BROKERAGE ACCOUNT HAS A SECOND NAME, PLACED ON IT MERELY AS AN ACCOMODATION TO THE ORIGINAL ACCOUNT OWNER, SO THE OTHER PERSON CAN ACT IF THE ORIGINAL OWNER IS NOT ABLE TO, AND THIS WAS DONE, NOT TO ALLOW THE SECOND PERSON TO INHERIT THE ACCOUNT, THE WILL CONTROLS ITS DISPOSITION. THIS IS A QUESTION OF FACT AND UNLESS SOMETHING IS IN WRITING EXPRESSING WHAT THE INTENTION WAS, THIS COULD LEAD TO LITIGATION OVER WHAT WAS INTENDED. MORE FACTS ARE NEEDED TO CLARIFY MY COMMENT.