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Stop: Don’t Designate Your Investments As “Transferable On Death”

After his wife died Frank, a retiree, updated his estate planning. His new will passed his estate in equal shares to his three children.  Most of his assets consisted of investments managed in a brokerage account. Frank, unbeknownst to his lawyer and on the advice of his financial planner, later designated the assets in his

What is a “Spendthrift Trust” and Who Needs One?

Did you ever wonder what happens to most inheritances after they are received? An Ohio State University study determined that those who receive an inheritance spend half. One-third of those who received an inheritance spend it all within two years and end up with negative savings. Unfortunately, a typical inheritance does not provide sustained financial