Based on a true story: My friend was locked out of her joint bank account when her husband suddenly died.
Bank procedures vary, so ask your bank what happens to your accounts after a death or disability.
In many cases, a TOD/POD designation or properly holding the account in a trust will avoid probate and unnecessary delays.
But setting it up is only half the job. Your family also needs to know the account exists and what to do next.
Comment “YES” and I’ll send you my Sorry I’m Dead, Now What?™ Kit 👇
It helps you organize your accounts, passwords, insurance information, important documents, and contacts so your family isn’t left searching for answers while they’re grieving.
Who you name on a TOD/POD matters, too. In some situations, naming a trust instead of an individual may provide more protection and control.
Need legal advice? Reply “LAWYER” to be connected with a lawyer licensed in your state.
Educational only. Not legal advice.
#estateplanning #banking #legacy
Bank procedures vary, so ask your bank what happens to your accounts after a death or disability.
In many cases, a TOD/POD designation or properly holding the account in a trust will avoid probate and unnecessary delays.
But setting it up is only half the job. Your family also needs to know the account exists and what to do next.
Comment “YES” and I’ll send you my Sorry I’m Dead, Now What?™ Kit 👇
It helps you organize your accounts, passwords, insurance information, important documents, and contacts so your family isn’t left searching for answers while they’re grieving.
Who you name on a TOD/POD matters, too. In some situations, naming a trust instead of an individual may provide more protection and control.
Need legal advice? Reply “LAWYER” to be connected with a lawyer licensed in your state.
Educational only. Not legal advice.
#estateplanning #banking #legacy
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