Legal Question in Wills and Trusts in Tennessee

My mother passed away recently and left her IRA account to my children. The bank is saying they will not release the funds until it goes through probate. I have found the certificate of deposit and it is a POD account. I thought this meant it did not have to go through probate. Are my children able to collect the money from the account or does it have to go through the probate process? If they can get it what do we need to do in order to get the money?


Asked on 4/06/11, 1:08 pm

1 Answer from Attorneys
Marshall Snyder Law Office Of Marshall Snyder

IRA's and CD's are two separate financial instruments. The CD is POD to the children, however, the IRA either does not name a beneficiary or else names the estate as the beneficiary, either

situation requiring probate before the bank releases the IRA funds.

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Answered on 4/06/11, 7:40 pm


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