How to Use Transfer on Death Accounts
Many times I have had clients ask about having a child named as a Joint Tennant with right of survivorship on an investment or banking account. The reasons the client cites is usually to provide liquidity for the estate, avoid probate, and have someone who can access funds should they not be able to write […]
What Per Stirpes Means in Your Estate Plan
Per Stirpes is a term you must learn about in order to build a successful estate plan. It is a Latin term meaning “per branch”. Sometimes it is omitted from beneficiary forms, wills, and trusts with sometimes devastating consequences. Per Stirpes is an important term because it indicates how property should be distributed in the event […]
What a Durable Power of Attorney Is and Why You Need One
Many of us worry, with good reason, that we might one day become incapacitated and unable to attend to our own affairs. How can we be sure our bills are paid, our investments are managed, or our property sold if the need arises? A power of attorney is a document that delegates legal authority to […]
The Estate Plan For Your IRA
Assets can transfer to your heirs in one of two ways when you die. They can transfer by will, which includes probate court and public filing of related documents, or they can transfer by contract. The advantages of having your assets transfer by contract include: Privacy – The details of a contract are private and […]
