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Investment accounts have a transfer on death (TOD) designation. In both cases, these designations transfer your assets to your beneficiaries, so it’s clear who will get the funds in the ...
It’s also a good idea to keep the accounts’ heirs updated and change beneficiary designations to reflect life and relationship changes. –Bankrate’s Matthew Goldberg updated this article.
Joint vs. separate: Can both be the best way to bank?. Many couples find that a blend of joint and separate accounts offers the best of both worlds. This “yours, mine, and ours” approach ...
Huntington Bancshares is an American bank holding company headquartered in Columbus, Ohio. It operates 1047 banking offices in 11 states, mainly in the Midwest, and is the largest originator of SBA 7 (a) loans.
A custodial account is a financial account set up for the benefit of a beneficiary, and administered by a responsible person, known as a custodian. Learn about different types of custodial accounts, such as those for minors, trusts, and securities, and their legal implications.
A Totten trust is a form of trust in the United States that allows one party to place money in a bank account or security with instructions that it will pass to a named beneficiary upon their death. Learn about its origin, validity, revocability, and limitations from this Wikipedia article.
Some financial assets, like bank accounts and retirement portfolios, are designed to pass from one person to another. This designated recipient is known as a "beneficiary," meaning that you have ...
Learn about the legal instrument for holding wealth known as a trust, and the Uniform Trust Code (UTC) that regulates it in the US. The UTC is a statutory code that aims to standardize the law of trusts across states, but still allows for variations and exceptions.