Monthly Archives: September 2023
Collecting Debts on Behalf of Your Deceased Loved One
People often engage in transactions that result in money being owed to them, such as loaning money to a friend or business partner or renting a house to a tenant. But what happens if someone passes away before they receive the money owed to them? Can someone else collect the money owed to deceased… Read More »
Four Things Your Spouse Should Know Before You Die
It is normal for married couples to share almost every aspect of their lives with each other. But when it comes to death, even the closest couples might become tight-lipped about certain topics. According to one study, half of all couples fail to discuss their dying wishes.[1] Death is final for the departed. For… Read More »
Difference Between Transfer on Death and Payable on Death Designation
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. But what is the difference between payable on death vs transfer on death accounts? Like trusts, POD… Read More »
Should the Trustee of My Trust Be Different During My Incapacity Than at My Death?
When you create a trust, choosing a trustee is one of the most important decisions you will make. If you create a revocable living trust—that is, a trust that you establish during your lifetime and can revoke or amend—you may opt to act as trustee for your trust, retaining the full control over and… Read More »
