BANK ACCOUNTS
WHAT IS BETTER? A BANK ACCOUNT A JOINT ACCOUNT A POD , TRUST OR A WILL WHEN I DIE?
Terry Says
If it’s your only asset – the bank account — then you can make it payable on death. If you have a joint account, the other person can withdraw the money — all of it — at any time!
But it you have other assets, such as a home or investment accounts, you should consult an estate planning attorney. And be sure you have named a beneficiary for each of your retirement accounts and your life insurance.