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Administration of a Will

ADMINISTRATION OF A WILL

Wills are simple, inexpensive ways to address many estates. But they don't do it all. Here are some things that may not be accomplished in a will.

Named Beneficiaries for Certain Kinds of Property

A will can't be used to leave:

  • Property you held in joint tenancy with someone else. At death, the deceased's share will automatically belong to the surviving joint tenant(s). A will provision leaving the deceased's share to someone other than the surviving joint tenant, would have no effect unless all joint tenants died simultaneously.
  • Property that was transferred to a living trust.
  • Proceeds of a life insurance policy for which there is a named beneficiary.
  • Money in a pension plan, individual retirement account (IRA), 401(k) plan or other retirement plan.
  • Money in a payable-on-death bank account.

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(520) 326-4343 Dodge Chapel: 1050 N. Dodge Blvd. | Tucson, AZ 85716 | Phone: (520) 326-4343
Carroon Mortuary: 1191 N. Grand Ave. | Nogales, AZ 85621 | Phone: (520) 281-2424
Avalon Chapel: 8090 N. Northern Ave. | Oro Valley, AZ 85704 | Phone: (520) 742-7901