Legal Question in Wills and Trusts in Ohio

Hello,

My Mom's intent is for her estate to be divided equally between her 4 children, and her will states this. Mom has all her money in CD's and Savings with my sister as beneficiary. My question is -- is my sister required to place all of Mom's money into her estate to be divided equally. Mom seems to be getting to the point where she feels her daughter would not do as the will states (the intent of the will is equal distribution) but if she is beneficiary of all the CD's and savings she now owns all of the assets and as far as I know does not have to distribute them according to the will.

I know that as executrix of the will my sister has to follow the will, but these assets were left to the beneficiary and not to an estate, so I guess my question is how does my mother see her Will obeyed.


Asked on 3/02/11, 1:08 pm

1 Answer from Attorneys
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

Your sister is not required to divide the CD's and savings with your mother's other 4 children. She will receive them as beneficiary and the provisions in the will will not apply to those funds. Most banks allow a person to name more than one payable on death beneficiary for accounts so your mother may want to check into that. The other option would be for your mother to have a trust own the accounts and at her death the funds would be distributed 4 ways.

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Answered on 3/02/11, 1:18 pm


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