Legal Question in Wills and Trusts in Texas
beneficiary vs executor of the will
If a person has a CD and names someone beneficiary (the beneficiary is also the executor of the will) and the owner passes away will the CD actually go to the beneficiary or will the money be considered part of the estate and be distributed as the will states? Or will the beneficiary be the sole owner of the money at that time? Will the beneficiary be obligated to split this money as the will states?
Asked on 6/28/08, 4:30 pm
1 Answer from Attorneys
Brandy Baxter-Thompson
Law Office of Brandy Baxter-Thompson
Re: beneficiary vs executor of the will
A CD is a non-probate asset that passes outside of the will to whomever is named the beneficiary.
Answered on 6/30/08, 8:27 am
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