t-bills and beneficiaries
Hi Terry … I’ll cut to the chase – heard you yesterday on WGN regarding the home builder and large sum t-bill investments … I’m interested in doing the same as my ‘chicken money’ is making ZERO interest at BOA. My question is how do I name a beneficiary or beneficiaries for the large sum t-bills if I choose that option? What happens if I don’t name a beneficiary and I drop dead? Thanks for your time – Joe C.
Terry Says
First, if you have that much money you should have a Revocable Living Trust. So buy the Treasuries in an account for the RLT — which uses your SS number. If you don’t have a revocable living trust watch this video I just posted!
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4
But if you don’t have a trust, you can always name your bonds with a beneficiary — POD — even after you have purchased them. It’s a simple process.
And there’s a gal on the internet who has made a terrific video explaining it:
https://www.youtube.com/watch?v=510Y0D5hoVo
