Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open ...

When it comes to making as estate plan, financial security for loved ones is obviously a top priority. One often overlooked yet incredibly useful tool for this purpose is the Payable on Death (POD) ...

Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open ...

Dear Liz: You recently wrote about the drawbacks of payable on death accounts, including that the funds go directly to the beneficiaries before the estate’s expenses are paid. Aren’t all 401(k)s ...

Payable-on-death (POD) accounts. Designating a beneficiary through a POD account is another way to avoid probate. Upon the account holder’s death, the funds are automatically transferred to the ...

Dear Liz: My goal is to avoid probate and allow simplified access for my heir, who is also my executor. I have no family. I have chosen payable-on-death and transfer-on-death accounts instead of ...

Losing a loved one is never easy. Along with the emotional weight, there are often financial questions that need quick answers. One of the most common sources of confusion is what happens to a ...

Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open ...