Q: My dad does not have an updated will. He has listed my brother and I as beneficiaries on his retirement accounts.
Will my brother and I receive the inheritance that way? He is married to a woman that is not our mother and plans ot leave her his house and other assets. I am trying to get him to set up his will, but if he died tomorrow, would we receive money from the accounts we are beneficiaries to? We reside in Ohio
A: You will inherit anything that lists you as a beneficiary. A will only controls assets that go to probate court, which are assets not jointly owned, having no beneficiary, or not in trust.
Moshe Toron and Aaron Epling agree with this answer
A:
Good question. Keep in mind that a spouse has certain rights to retirement funds depending on the type of account he has, regardless of beneficiary designations. Timing also matters in this regard. I highly recommend you sit down with a qualified professional who can evaluate the situation in more detail and advise you.
Best of luck.
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