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PODs and TODs: To Sign or Not to Sign

Posted Jan 19, 2018 by Joan Keston

Pay on death (PODs) and transfers on death (TODs) can be helpful to a lot of families if used consistently with their estate plan. A POD is a beneficiary designation used by bankers for your bank accounts. It is a contract provision telling the bank to pay the amount in your account to someone (the beneficiary) when you pass away. A TOD is a similar tool that is used by financial institutions for investment accounts. It designates a beneficiary to receive payments from the investment after you pass away. They both avoid probate. On the surface, PODs and TODs seem helpful. But is signing a POD or TOD a good idea for your estate plan?

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Are My Out-Of-State Planning Documents Valid?

Posted Dec 27, 2017 by Joan Keston

Moving to the great state of North Carolina?  Do you already have estate planning documents in place? Will your estate planning documents be applicable in the new state? The great legal answer is, it depends. The bottom line is that anyone who moves to another state should have their documents reviewed. Under the U. S. Constitution, each state is required to give full faith and credit to public acts, records, and judicial proceedings of other states. So your documents should be valid—but that is not necessarily the case. Your Last Will and Testament is one such document that can be effected by moving to a new state.

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