I had an appointment with an estate planner today. He explained TOD (transfer on death) and POD (pay on death).
TOD is for property or vehicles. You can have a new deed or title made up and filed ahead of time so the property transfers smoothly to someone else on your death.
POD is much the same thing but is used on bank accounts etc. It is about the same as naming a beneficiary.
It seems the goal is to avoid probate as much as possible. When I made the appointment he asked me to bring lots of things, like titles and deeds and IRA statements.
I found most of it but couldn’t find the title to the car. You only need the title when you are buying or selling the vehicle. Also couldn’t find the deed to this property. I can get copies of both.
Depressing? Not really. It’s reality. I want to make things as easy as possible for my family. Cleaning out all my accumulation of stuff will be enough of a job for them.
The sun came out this afternoon which was great. I have been pretending it is spring already. There are a few inches of snow still on the ground and every now and then a new coating of sleet or snow.
My hoarseness is getting better. It is a side affect of the taxol chemotherapy. This week off proves that fact. My back is still a little sore from my fall but getting better each day.
All in all things are going well, just need some more energy.
later….
No comments:
Post a Comment