Legal Question in Wills and Trusts in Ohio

Do payable on death cds and stocks omit other heirs

My father recently died and in his will, divided his estate in equal 25 percent portions between his four children. My eldest brother is executor and is also named as payable on death recipient on several cds and stocks. We want to know if these assests are to be included in the total assests and divided among the four children or are the pod assests to be excluded and only the non-pod assests to be divided into 4 parts as designated in the will. It seems he was given executor status as a means of simplfying things and not as a way of giving him more assets...?


Asked on 8/07/01, 12:55 am

1 Answer from Attorneys
Paul Kray Paul J. Kray, Attorney at Law, LLC

Re: Do payable on death cds and stocks omit other heirs

Ohio law assumes that all pod assets (or joint survivor) are to go to the survivor ie. your eldest brother. That being said, your brother's right to these assets can be challenged if other factors are present. Wait to see what happens with the estate and if it looks like you and the other sibs are being cut out, then the three of you should get an attorney.

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Answered on 8/08/01, 11:32 pm


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