What happens if a parent refuses to list beneficiaries?
2 attorney answers
It is solely your mother's choice whether to designate beneficiaries on her accounts, and if she does so, who those beneficiaries should be. If she passes away owning accounts with no designated beneficiaries, then (depending on the type of accounts) any remaining money would pass through her estate (as opposed of bypassing her estate directly to the beneficiaries had she designated beneficiaries).
Hope this answers your question.
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If she does not designate any beneficiaries, the balance of the account will go to her estate when she passes away. This will mean that the estate will have to be probated in court before the assets can be distributed to her heirs. Consult a local attorney to discuss this further.
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