August 21, 2018 by Petrov Law Firm Asset Protection, Estate Planning, Retirement Accounts, San Diego Probate 24 comments
Bank Accounts Versus Probate Court
The words probate court probably have you envisioning huge wait times and losses for your heirs. While this is not always the case, it can be, so we’re going to look at a simple way to cut out the middleman, as it were. Here is how you can use bank accounts to avoid probate.
- POD Accounts – You can set a bank account to be payable on death. This allows the account to transfer directly to the named beneficiary without going through probate. Keep in mind that you need to remember to change the beneficiary if you have a change in circumstance and want a different person to inherit the account. Otherwise, this will go to the named beneficiary, regardless of how your wishes may have changed.
- Retirement Accounts – Retirement accounts generally require a named beneficiary. These also transfer automatically when the account holder passes away. This is another situation that involves reviewing and updating your estate plan regularly to ensure the right people are listed as your beneficiaries.
- Shared Bank Accounts – Anyone you share an account with would obviously still have access to it if you pass away. The main downside to this type of account is that the other individuals could do whatever they want with the money even while they are still alive.
Planning for Your Estate and Probate in California
To help money transfer quickly and seamlessly to your heirs in California, contact the Petrov Law Firm today. You can speak to an experienced estate planning attorney in San Diego by calling 619-344-0360 and scheduling an appointment.
0
… [Trackback]
[…] Information on that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
… [Trackback]
[…] Here you can find 22703 more Information to that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
… [Trackback]
[…] Information on that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
… [Trackback]
[…] Read More Information here on that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
… [Trackback]
[…] Info to that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
2bananas
gay universe man chat https://bjsgaychatroom.info/
gay dating game orgy https://gaypridee.com/
chat gay https://gaytgpost.com/
snap chat gay solo https://gay-buddies.com/
gay conservative dating https://speedgaydate.com/
fre slots https://pennyslotmachines.org/
vegas world slots https://slotmachinesworld.com/
computer memory slots https://slotmachinesforum.net/
omg fortune free slots https://slot-machine-sale.com/
best free slots with bonus https://beat-slot-machines.com/
virtual strip slots https://download-slot-machines.com/
quick hit slots free coins https://www-slotmachines.com/
mba dissertation writing https://buydissertationhelp.com/
demystifying dissertation writing pdf https://dissertationwriting-service.com/
undergraduate dissertation https://help-with-dissertations.com/
dissertation example https://dissertations-writing.org/
… [Trackback]
[…] Read More here to that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]
… [Trackback]
[…] Here you will find 2956 additional Info on that Topic: petrovlawfirm.com/bank-accounts-versus-probate-court/ […]