DIY Tip of the Day – Bank Accounts

We frequently receive calls from families where a family member has passed away and left a bank account.  Often times, the bank account contains less than the cost of filing a probate and unfortunately, we are unable to assist them.  Don’t let this happen to you!  Make sure you designate a “Payable on Death” designee on your bank accounts.  This way, when you pass on, no probate is required.  The designee takes the death certificate to the banking institution and the bank releases the money.  No probate required.

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