Do I need a Will if I have assets in mutual funds and IRAs with named beneficiaries?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Do I need a Will if I have assets in mutual funds and IRAs with named beneficiaries?
I have no other property or minor children.
Asked on December 21, 2011 under Estate Planning, Texas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
It is always a wise idea for every adult to have a Will or a trust as opposed to passing away without a document setting forth one's wishes as to who is to receive the assets of one's estate. Failure to have a Will or trust upon death results in the state of one's residence through intestacy to set forth who receives the deceased's assets.
Even though you may have assets in mutual funds and IRAs with named beneficiaries, I suggest that you consult with a Wills and trust attorney about a Will or trust for you.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.