Decedent Did Not Change Beneficiary of His Bank Account Because His Broker Was Away on Vacation
In In re: Estate of Golas, 2000 PA Super 122, 751 A.2d 229 (Pa. Super. 2000), a decedent had established an IRA with his sister named as the beneficiary.
Shortly before his death, he established a trust and sought to have the beneficiary on the IRA changed so that the funds would go into the trust.
He was unable to get the necessary forms, however, because his broker was away on vacation, and although he spoke to another broker, the forms did not arrive on time.
The Superior Court concluded that the decedent had made every reasonable effort to change the beneficiary of his account according to the bank's terms and so his intended change should be given effect.