Posted By: Boo on 2009-03-06 In Reply to:Update... - steph13
with my mother's passing. Possessions, property, etc can be named in the Will. Things like IRAs, CDs, life insurance are beneficiary- only and cannot be distributed by means of a Will, or beneficiaries changed in a Will. (FYI -- you cannot change beneficiaries on these items with a POA alone - special forms must be signed by your father and guaranteed by a medallion notary, which he cannot do if he has dementia.) If your brother has POA for your father, he can refuse the distribution of life insurance to your father and defer it to be distributed to the children -- I recently did this and had the small amount distributed to my children. I just had to sign something. Hope this helps and good luck!
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