By: Martin M. Shenkman, CPA, MBA, JD
By Martin M. Shenkman
It’s Not Only a Will
1. Insurance – beneficiaries listed in the insurance application.
2. IRAs – by beneficiary designation.
3. House – often by how the deed is written.
4. Brokerage account – some have beneficiary designations.
5. Bank account – often by the title or ownership of the account, e.g., ITF = “in trust for”, POD = “pay on death to”…, etc.
6. Stock in a closely held business often passes by the terms of a shareholders agreement or buyout agreement.
7. Prenuptial or post-nuptial agreement can govern much of what you do.
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