Trust provides more Protection than TOD
Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibility than the other.
January 6, 2022
TOD and POD Accounts are ways to avoid Probate
A TOD account allows the account holder to name a beneficiary on a non-retirement financial account to receive assets at the time of the account holder’s death, thereby (generally – i.e., when used correctly) avoiding probate.
December 28, 2021
What a Will Can and Cannot Do
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
November 18, 2021
Planning is Critical for Unmarried Couples
A proper estate plan will help those left navigate the disposition of assets and the probate court system, especially for unmarried couples and some married same-sex couples.
June 29, 2021
Unrecorded Deeds hurt Estate Planning
While discussing estate planning with my parents, they told me that an attorney prepared a deed for them but told them not to record it yet.
June 24, 2021
Short-Cuts in Planning can have Consequences
Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man’s (or woman’s’) estate planning.’ This type of estate planning has some very negative tax consequences.
June 15, 2021
Including a POD Account in your Estate Plan
Payable on death accounts can help streamline the process of transferring certain assets to loved ones, after you pass away.
May 25, 2021