The Importance of Beneficiary Designations
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A new Minnesota law comes into effect on August 1, 2024, which flags the importance of addressing insurance coverage within your estate plan, especially if your plan utilizes transfer on death deeds. A transfer on death deed...more
Traditionally, real estate must pass through a deed signed by all grantees of the last vesting deed, or if one of the grantees has passed away, then a probate proceeding allows a court to transfer title for the deceased...more
Transfer on Death (“TOD”), also known as Payable on Death (“POD”), account registrations are a popular way to avoid the requirement to pass assets through probate upon death and operate as an alternative to retitling assets...more
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...more
After a party completes their divorce, there are often many things that they need to do to finalize matters. However, one item that many overlook is changing their beneficiary designations after divorce to remove their...more
Financial institutions and brokerage firms occasionally recommend that client accounts be structured as joint or beneficiary-designated accounts without full consideration of the impact on the client’s estate plan....more