Month: February 2018

POD (pay-on-death) and joint accounts are not foolproof estates planning techniques because there are several drawbacks which constrain a testator’s ability to devise their assets and probate can still take control of the assets in some situations.

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When the owner of a home with a reverse mortgage dies, the heirs are on the hook for the full loan balance and any interest that’s accrued over the life of the loan term. The lender will expect a quick repayment regardless of whether the beneficiary plans to live in the home or not.

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