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Apr 6, 2021
1:52:39pm
El Paso Coug All-American
Most people are surprised to learn that joint ownership/beneficiary designations
take precedence over the terms of a will and/or trust. A will only controls assets that are not jointly owned and don't have a named beneficiary. A trust only controls assets that are legally titled in the trust.

I'm guessing that the wife was the named beneficiary or a co-owner on most accounts. If so, they all pass to her. For tangible personal property, the wife probably gets all of it under some sort of family/personal property allowance to the spouse under NV law.

End result: kids from prior marriage are screwed and may get nothing. I deal with this every, single day for the last 25 years.
This message has been modified
Originally posted on Apr 6, 2021 at 1:52:39pm
Message modified by El Paso Coug on Apr 6, 2021 at 1:54:34pm
El Paso Coug
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El Paso Coug
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