By: Attorney Cindy L. Hangartner – Weld Riley, S.C.
Probate is the court process required to transfer assets to your beneficiaries if your total assets requiring probate are $50,000 or more. One way to avoid probate is by designating beneficiaries on your bank accounts. The beneficiary designation, also called a POD (payable on death) or TOD (transfer on death), is one way to transfer assets directly to your beneficiaries without probate. Naming a designated beneficiary is generally a non-probate transfer.Continue reading Estate Planning Considerations For Your Bank Accounts