Joint ownership and POD/TOD are admittedly easy and quick steps and would seem to be effective. The reality is that passing on financial accounts and real estate upon the death of an owner involves a multitude of financial, practical, and legal issues. Sometimes, tax issues as well. Many of those issues are of a nature that, when people are eventually exposed to their impact, the reaction is either “I never thought about that” or “I did not know that is what would happen”. Often, the loved ones who survive the owner of accounts or real estate learn of the issues when it is too late to do anything about them. They must suffer the consequences or attempt to correct what they see as mistakes or unintended results through costly court actions. Learn more by downloading!
Zimmer Law Firm
Estate Planning & Elder Law Attorneys
