My father passed away earlier this week and a 12-Month CD matured. The check was printed on the day my dad passed, and it arrived in the mail today. There was a beneficiary designation on file for this CD. Should the money from the CD go to the listed beneficiary or to my father's estate?
The answer to your question may depend on the actual maturity date of the CD (was the check issued the day of maturity or a day later?) and/or on state law. It's possible that the executor or administrator of your father's estate may be able to negotiate with the named beneficiary on the account to determine an equitable outcome. It's also possible that the estate representative will have to ask the court to decide ownership of the account after determining the facts.
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The answer to your question may depend on the actual maturity date of the CD (was the check issued the day of maturity or a day later?) and/or on state law. It's possible that the executor or administrator of your father's estate may be able to negotiate with the named beneficiary on the account to determine an equitable outcome. It's also possible that the estate representative will have to ask the court to decide ownership of the account after determining the facts.
