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Ease the Settlement of Your Estate Thumbnail

Ease the Settlement of Your Estate

As discussed on the March 7, 2021 episode of The Money Docs, here are six things you can do now, to make things easier for your beneficiaries later:

1.    Title your accounts correctly: 

  • Bank accounts: payable upon death 
  • Brokerage accounts: transfer on death

2.    Make sure you have beneficiaries listed on all of your retirement accounts.

3.    Have all of your stocks held in a brokerage account so it is an easy transfer to the beneficiaries without needing to contact each of the transfer agents.

4.    Have an updated will and health care proxy.

5.    If you have a lot of properties you may want to consider a living trust.  Talk to an estate attorney.

6.    If you want to protect your assets from a spend down if you should need long term care, talk to an elder law attorney.