What is the name of your state? ohio
question about a will and someone doing a transfer on death for all of their assets. I am the only child and beneficiary from my parents. my mother recently passed but she had changed their wills and added my 2 sons equal shares as me. One is a minor still. Actually i did the wills using some legal software because she wanted me as executor and not an attorney to get any money.
But my stepfather said he has made all his accounts-stocks, 401 and bank accounts and also the house to transfer on death to me only. also i am the life insurance beneficiary. What about the will then? I read that the TOD takes precedence. Its not that i wont give the kids money, but i dont want them left with a bunch to spend. I want to control what they get. If everything is TOD, do i have to go thru probate at all? A lawyer told him to do it that way with one sole beneficiary involved and also that it will avoid probate.
question about a will and someone doing a transfer on death for all of their assets. I am the only child and beneficiary from my parents. my mother recently passed but she had changed their wills and added my 2 sons equal shares as me. One is a minor still. Actually i did the wills using some legal software because she wanted me as executor and not an attorney to get any money.
But my stepfather said he has made all his accounts-stocks, 401 and bank accounts and also the house to transfer on death to me only. also i am the life insurance beneficiary. What about the will then? I read that the TOD takes precedence. Its not that i wont give the kids money, but i dont want them left with a bunch to spend. I want to control what they get. If everything is TOD, do i have to go thru probate at all? A lawyer told him to do it that way with one sole beneficiary involved and also that it will avoid probate.