any knowledge of payable on death cds etc in ne. are they estate or not?

Question

parent died left p.o.d,.s to children cds ..one sister executrix claims they all have to be put together as part of estate and divided equally some have individuals name// some are no.# of children split.. are they estate or not ??state of ne.

sorry i guess wasnt to clear some cds have like three childrens names on them bank will not cash cds unless all children release at same time execurix refuses to do so sights some bills all of which can be paid out of parents checking accout which is also p o d we have offed to sign that over to her to pay final bills but she insists all cd and pod bonds be cashed and devided i think she has already cashed hers and wants ours to

Answer 1

Any type of asset that is payable on death is not part of the estate. The are designed to avoid probate and not be part of the estate. The same is true of other other "POD" assets such as a life insurance policy or a 401(k). If the CDs were left to specific beneficiaries, then that is who if belongs to.

Answer 2

pod are NOT part of estate. She should have NOTHING to do with them. I don't know what the tax implications are. Nor is it clear to me what "no.# of children split" means. Try using c o m p l e t e e n g l i s h s e n t e n c e s next time. Thts if you're not just trying to not get an answer. It may be up to state law whether pod accounts without SPECIFIC beneficiaries are even legal and if so how you'd go about establishing the identity of the owner. The pod (Ohio) I'm familiar with just require you to identify yourself at the institution holding the account together with the death certificate. Maybe someone else can comment on the rest. I don't see how the Executrix has ANYTHING to say about them. Perhaps there's debt or tax issues?