Video Summary
How can I make sure my beneficiaries receive their inheritance quickly and smoothly? My suggestion is, particularly if you have a fairly simple estate, it’s how you title your assets with your bank accounts. You can put have it in your name, payable on death, and that’s a POD account and name your beneficiary. So, all they need is your death certificate and they can receive the Aspen. If you have a brokerage account with Merrill Lynch or Raymond James or Schwab or anyone else, you can put a transfer on death, A TOD designation, and that way the assets will pass to your beneficiaries by them presenting your death certificate and they’ll transfer it into your name, into the beneficiary’s name. If you own real estate and you want it to go to your beneficiaries, you can execute what they call a lady bird deed or enhanced life estate deed, which says that I convey the property to these beneficiaries. However, reserve all the rights of ownership during my lifetime, including the right to sell the property, keep all the proceeds, and you can even change who you wish to receive the property at the time of your death. So those are the ways that you can have these assets pass smoothly and without any lawyer interference as far as that’s concerned, or court interference. And so if you have any questions, give me a call at (727) 847-2288.