TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
Any time you can set up your estate planning to avoid the probate process, you are helping your loved ones who are left behind avoid a long and often grueling process. Figuring out ways to avoid going through probate doesn't have to be a complicated matter. In fact, one simple way to do this is by using something called pay on death bank accounts. Even if you have large sums of money, using a pay … [Read more...] about How Pay on Death Accounts Can Help You Avoid Probate
A payable on death (POD) account can be a convenient way to pass on part of your estate outside of probate. With it, you designate a beneficiary who will inherit the account when you pass away. Because your beneficiary has been given the right, by contract, to become the owner of the account upon your death, there’s no need for a POD account to go through probate. It sounds like a great … [Read more...] about Should POD Accounts be Part of Your Estate Plan?