Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Term vs. Permanent Life Insurance

According to industry experts, most people don’t have enough life insurance. The American Council of ...

The post Term vs. Permanent Life Insurance first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more

Who Can Be a Beneficiary on My Transfer on Death Bank Account?

A transfer on death bank account is one way to provide assets relatively quickly to your loved ones after you pass away because your passing enables them to get access to these assets immediately.

Most people establish a transfer on death bank account specifically for the purposes of a spouse or a child. However, many beneficiaries of transfer on death accounts can include people beyond a surviving spouse. This can include friends and relatives although there are some states with special rights associated with the surviving spouse.

You need to contact your bank directly to make sure you have the proper form completed with your financial institution. You would also need to return to them if you need to reassign that bank account to someone else. A transfer on death bank account is a better choice than adding someone directly to your bank account since doing the latter would empower that person to do things with your bank account as soon as you add them.

Usually when a transfer on death account agreement directs funds to someone other than the spouse or in addition to the spouse, the spouse might need to give written consent. You will need to read through the specific claim with a transfer on death bank account which you intend to use.

This can be a valuable estate planning tool but certainly should not be the only thing you consider in the process of passing on assets to your loved ones. Make sure that your estate planning lawyer has guided you through the process of considering all possible issues so that you have a comprehensive plan. 

 

 

Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Term vs. Permanent Life Insurance

According to industry experts, most people don’t have enough life insurance. The American Council of ...

The post Term vs. Permanent Life Insurance first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more