Legal Question in Wills and Trusts in Texas
Non Probate Assets
My Mom left CD's ($40,000.) with me as the sole beneficiary (POD)when she died. Are these assets subject to probate? I plan to divide these assets among the other heirs, but can I keep a nominal fee of $3000. more for compensation for being executor for the estate legally out of this money. Can any of the other heirs sue me for taking the compensation?
Asked on 8/29/06, 7:26 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Non Probate Assets
That asset would not be subject to probate. It would be yours at the time of death. Present the bank with a copy of the death certificate and it will transfer ownership. You may want to let the CD mature before you distribute any money to avoid the hefty penalties.
Answered on 8/30/06, 8:18 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
