Jason Benitez and Lisa McChesney, of Goodwin LLC, have made available for download their article, “Transfer-on-Death Designations: Potential Pitfalls,” published in JDSUPRA. The article begins as follows:
When used in consultation with an estate planning attorney, transfer-on-death (TOD) or payable-on-death (POD) designations on financial accounts can be valuable estate planning tools. However, these account designations have the potential to derail an estate plan when not coordinated properly with the overall plan. Consulting with an estate planning attorney is critical when considering a TOD/POD designation, and caution is required when opening financial accounts to avoid unwanted results.
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Posted by Melissa Zheng, Associate Editor, Wealth Strategies Journal.
Wealth Strategies Journal 