Legal Question in Wills and Trusts in Pennsylvania
In the state of PA does the beneficiary designation trump the will
Asked on 3/10/11, 4:42 pm
1 Answer from Attorneys
I assume you are referring to beneficiary designated assets like an IRA, annuity, insurance policy or the like. In that case, the answer is yes. A will only controls non-beneficiary designated assets, Also, some bank accounts may either have a payable on death designation or may be owned jointly and those assets generally pass upon death to the surviving person named.
Answered on 3/10/11, 4:49 pm