Estate Planning for Everyman
I went to an estate planning seminar at my broker yesterday. Very interesting, got me to thinking about this somewhat off-putting topic.
Under current law and with my current net worth I don't have an issue with federal estate tax.
So what I am trying to do is be sure TOD (transfer on death) POD (pay on death) and retirement account beneficiary designations are in place.
Mostly I have consolidated to 2 stock brokers and one commodity broker. These allow me to make the above designations. Ditto my bank accounts and CDs.
I also have some US savings bonds in paper form, as well as 2 MLPs which I keep registered directly to me to make tax preparation easier.
I'll call the transfer agent to see if I can get a POD, TOD or beneficiary designation on the MLP securities.
My question mainly relates to the Savings Bonds. Can I get a similar directive associated with these? Would it require switching them to book entry? Has anyone done this?