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Does a will control all of my property?


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Does a will control all of my property?

Question: Does a will control all of my property?

Answer: A will does not necessarily control all of your property. The will controls property that is subject to the review of the probate court. The will controls the property that is in your personal name however you may have a trust and you may have put assets into the trust and those assets would not be controlled by your will or probate court; they would pass under the terms of the trust. In addition, you may have property that’s held to survivorship, you may have transfer on death provisions in your investments that say upon your death the property transfers to certain properties and your will doesn’t control that that. In addition, you may have beneficiary designations like your life insurance policy or your retirement plans. All of these other assets have beneficiary designations that are controlling and are outside the will.

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