If I designate a person as the "in trust for" recepient of my funds upon my death, what happens if that person and I are both killed in an auto accident? Can/should an alternate beneficiary be named?
The answer is in the state law. States have laws relating to how property ownership is handled in the event of simultaneous deaths. You would have to pose the question to an attorney familiar with the laws of your state or the state in which the bank is located.
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The answer is in the state law. States have laws relating to how property ownership is handled in the event of simultaneous deaths. You would have to pose the question to an attorney familiar with the laws of your state or the state in which the bank is located.
