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Having personal experience with estate settlements in our family, I appreciated your article dated 2/13/01. One learns many lessons in the role of executor.

A will covers only accounts and personal belongings that are held in single ownership--otherwise, the beneficiary designation on the account, home, car, etc., is the new owner and has precedence over the will. The estate still pays taxes on the total, though.

You are correct. Everyone should diligently keep up-to-date with their accounts and desires. Maybe you could write more on the subject. It is commonly misunderstood; and attorneys (I'm sorry) assume we understand certain subjects when we do not understand.



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