Banks and other financial institutions don’t automatically ask account holders to designate a beneficiary, so it can be easy to forget or postpone adding a beneficiary until it’s more convenient. But ...

Question: My mother is the trustee of her revocable living trust, with me as the sole beneficiary. The only asset in the trust is my mother’s house. My mother wants to simplify things and record a ...

Naming a bank account beneficiary ensures your money goes straight to your loved ones without getting tied up in costly, time-consuming probate. Most banks let you do this through a “Payable on Death” ...

Dear Liz: In response to a reader who asked about creating a will, you suggested options for low-cost online resources. That is great! But, I would encourage you to remind readers to designate ...

Transfer on Death (“TOD”), also known as Payable on Death (“POD”), account registrations are a popular way to avoid the requirement to pass assets through probate upon death and operate as an ...

A Roth IRA doesn’t have required minimum distributions unless it’s inherited. Withdrawal options vary depending on your relation to the deceased. Consult a tax professional before making decisions ...

Thing is, when you divorce, your beneficiaries remain exactly the same unless you change them. Which means that the day your divorce is finalized, if you had previously listed your spouse as the ...

An irrevocable beneficiary has a guaranteed right to receive the death benefit from your life insurance policy, and their consent is required for any changes that affect their rights. Naming minor ...

Workplace retirement plans like 401(k)s are among the most powerful tools for building long-term wealth, yet they are also among the easiest to overlook during major life changes. According to a 2025 ...