Passing on Assets Outside of Probate: PODs and TODs

For a variety of reasons, people sometimes want some or all of their assets to pass directly to specific individuals upon their deaths, outside of probate. One way to accomplish this is to set up a “payable on death” (POD) account for money in a bank account or a “transfer on death” Continue reading

Can I Name a Charity as Beneficiary of My IRA?

Yes, you can name a charity as beneficiary of your IRA, but be sure to understand the advantages and disadvantages.

Generally, a spouse, child, or other individual you designate as beneficiary of a traditional IRA must pay federal income tax on any distribution received from the IRA Continue reading

Do Frequent Flier Miles Expire When You Do?

Accumulated frequent flier miles can be valuable assets, but what happens to those miles after somene dies?  Can a spouse or other heirs inherit them, or do the miles simply evaporate like a contrail?

The answer to whether they can be inherited depends on the airline, but consumer Continue reading