Legal Question in Wills and Trusts in Ohio
Wills, POD ,Reserve Life Estate
My grandparents left everything to my Mother as their only child including their house in a Reserve Life Estate. My Mother died unexpectledly and my Father had the Reserve Life Estate transfered to his name. After my Mother's death a new will was written making my and my two siblings benefiaries POD on all of their accounts. My sister who is the Executor is holding the estate and not paying out the benefits and continues to pay for expenses relating to the house even though it has been transfered into my Father's name. Is this legal? How can I get the benefits paid out?
1 Answer from Attorneys
Re: Wills, POD ,Reserve Life Estate
This is very confusing because, if your father is alive, everything belongs to him. If he is deceased, all of the POD accounts belong to the children, not the estate, and the children became entitled to their share of the POD accounts immediately after your father's death.
A will DOES NOT control POD accounts, or any other assets with beneficiaries. You have a right to demand your share of the original balance of the POD accounts right now. Your sister has no right to hold these funds without your permission.
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