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Daily Archives: September 5, 2018

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WHAT IS A “WILL SUBSTITUTE” AND COULD IT RUIN EVERYTHING?

Estate PlanningBy adminSeptember 5, 2018

A “Will Substitute” is an instrument that transfers ownership of a property from the owner to the beneficiary upon the owner’s death while avoiding probate. Examples of will substitutes include the “Payable on Death” (“POD”) designation of a bank account or the beneficiary designation of a life insurance policy. PODs and insurance contracts are powerful…

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