Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a POD Account? A POD account is a type of bank account authorized by state law which allows the account owner to designate one or more beneficiaries to receive the funds left […]
POD
Year End Estate Planning Tip #2 – Check Your Beneficiary Designations
With the end of the year fast approaching, now is the time to fine tune your estate plan before you get caught up in the chaos of the holiday season. One area of planning that many people overlook is their beneficiary designations. Have You Checked Your Beneficiary Designations Lately? Do you own any life insurance […]
Will Your Revocable Living Trust Avoid Probate? It Depends.
If you’ve set up a Revocable Living Trust, congratulations! You’re definitely on the right track. But… you’re only halfway there. Many believe because they took the time to create a Trust, their estate will automatically avoid probate. Unfortunately, this is a false sense of security. The key to probate avoidance is proper asset ownership, including […]