Warren, MI asked in Estate Planning and Probate for Michigan

Q: My father-in-law recently passed away there was no will If one child’s name was put on as beneficiary to the bank accoun

Does that legally mean it’s just her money or would that money have to go into an estate and be split

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1 Lawyer Answer
Trent Harris
Trent Harris
  • Estate Planning Lawyer
  • Jackson, MI
  • Licensed in Michigan

A: Bank accounts that have a payable on death beneficiary designation on them pass outside of probate. That means if your father-in-law named someone as a beneficiary to his bank account, the money belongs to that person, and that person alone, upon your father-in-law's death. That person (she?) does not have to share the money with his estate or others, unless she just wanted to voluntarily. Maybe you could convince her, if you asked in a nice way? For further information, schedule an in-person consult with an experienced probate attorney in your area.

Kenneth V Zichi agrees with this answer

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