TOD or POD for the Fidelity, Vanguard, and checking accounts because this will bypass probate. Setting up TOD/POD for investment and checking (if available) is easy. When the time comes you beneficiaries will need to fill out a form and attach death certificate and the money transfers to them. Of course, review beneficiaries often to ensure most current.
My father passed away in Ohio, had no home or vehicle. He had a will, but I never filed it because all his accounts had a TOD in place. Personal belongings - he had left instructions. Nothing to probate....
I setup a Trust using Quicken Willmaker for my Florida home and updated the deed to reflect this and filed with the County.
I would look into Lady Bird vs. Living Trust if all you need to deal with is the home...
|