There are a variety of means to transfer your assets at death. Options that are often considered the "simple" route include: TOD (Transfer on Death), POD (Pay on Death), beneficiary designations, and joint tenancy. However, these modest methods can present complications down the road. They also lack certain benefits that a trust contains. Read on to learn more about how 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
Creating a comprehensive estate plan usually involves combining a wide variety of strategies and legal tools to reach an equally wide variety of goals and objectives. One of the most common goals of estate planning is the transfer of real property upon death. Accomplishing the transfer is as little time as possible and without the need for the property to go through probate are usually the goals. People often put an adult child on the title to a home in an effort to accomplish these goals. While … [Read more...] about Joint Tenancy with a Child and Your Estate Plan – Is It the Best Option?