[Aces4]

Originally Posted by BoneLakeBennie

Here's my experience with my mother's estate. My mother had properties in multiple states, and small brokerage (Fidelity) and checking/savings accounts. Prior to her passing, we set up Transfer on Death Deeds (TODD in many states, similar is Lady Bird Deed in Florida) and made sure I was a beneficiary on all of her brokerage, savings, annuity, etc accounts. I also had power of attorney. To set up TODD's on 3 properties cost ~$500 in lawyer fees. Could I have done it myself? Most likely, but the ramifications of making a mistake were too high for my risk tolerance.

After her passing I provided a copy of the death certificate to the attorney and they filed the paperwork with the property offices and the properties were retitled in my nome. Easy, peasy. I don't recall if there was a cost for that.

For all other accounts I contacted customer service for the company and they pointed me to the forms to file. I filled them out and provided copies of the death certificate and within a short time, the accounts were either transferred to me of I received a check. Again, easy, peasy.

I originally thought a trust would be required, but everything could be handled via TODDs and beneficiary designations.

Hope that helps.

That sounds pretty close to how our estate planning was designed by our attorney. She said there was no need for a trust and gave us a synopsis of any items that may trigger probate proceedings which we can monitor and adjust accordingly. Also, not all states require a "Ladybird Deed". TOD is enough for those states.