Account Owner & Beneficiary Deceased

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Question:

We are in Oklahoma. Our account owner has died, and her beneficiary is also deceased. Who gets the funds? Will it need to probate? The amount is less the $1000.00 and the family can't afford to see a lawyer.

Answer:

Even if the beneficiary died before the account owner, but the POD beneficiary designation was not removed or changed before the account owner's death, the funds go to the estate of the beneficiary. See Oklahoma statutes Title 6, section 901B.