Difference Between Transfer on Death & Payable on Death Designation The Basics of POD and TOD Accounts: A Comparison Adding a payable-on-death (POD) or transfer-on-death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. Like trusts, [...]
You Can Benefit from Giving Gifts Strategic Estate Planning: Three Trusts for Wealth Preservation & Transfer A benefit of working hard is sharing the fruits of your labor with your loved ones. However, gift or estate tax consequences may impact high-net-worth clients when they share their wealth. By crafting a comprehensive estate plan, we [...]
What Happens To Your Venmo, PayPal, & Apple Pay Accounts At Your Death? What Happens To Your Digital Payments Accounts When You Die? It has been said that nothing ever dies on the Internet. While this dictum is typically used as a warning that what we put online may come back to haunt us, [...]
What Not To Include In Your Estate Planning Documents How To Protect Your Estate From Identity Theft & Other Risks One important purpose of estate planning is to facilitate the transfer of ownership of your money and property to your family and loved ones when you pass away. For this transfer to be as [...]
What Is a Devise In My Estate Plan? How To Choose The Right Type Of Devise For Your Estate If you are thinking about creating an estate plan, you may hear some new and confusing terms that make your brain hurt. To add to your bewilderment, not only are some of the words unfamiliar, [...]
Cross-Border Estate Planning Top 5 Concerns for Families to Consider When Holding Property in Multiple Countries When families own assets in both the United States and other countries, there are several estate planning issues that can arise that may come as a surprise to those who have not planned ahead. As a law firm [...]
Investment & Distribution Trustees: Why Would I Need Both? When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will take over when you can no longer act (either because of illness or death), it is [...]
Integrating a Community Property Trust Into Your Estate Plan Careful, trust-based estate planning is the best way to ensure the highest quality of life for you and your loved ones. But, a well-crafted estate plan consists of many parts. Couples with highly appreciated accounts or property (something that is worth more now than when [...]
Three Things You Must Do To Protect Your Family If You Are Recently Unemployed If you have recently lost your job, you are not alone! Inflation has skyrocketed in the United States over the past couple of years. Some smaller businesses have not been able to survive the increased expenses, putting employees out of [...]
Why Can’t We Have a Joint Trust If We Are Not Married? Joint trusts are beneficial for many married couples, especially if they have a stable relationship, do not have many creditors, and do not live in a state where their estate may be subject to a state death tax. Compared to separate trusts, [...]
