questions & answers
Question: How will my property be distributed upon my death?
Usually by operation of law. Any joint accounts will go to the surviving joint tenant. Any asset with a beneficiary designation (bank account, real property, brokerage account) will pass to the named beneficiary(ies). Terms you will hear include “transfer on death,” “payable on death,” and “in trust for.”
Any assets in a revocable living trust (which becomes irrevocable at your death) will pass under the terms of your trust. Any general or limited power of appointment which you exercise will direct how assets subject to that power will be distributed.
How will my property be distributed upon my death?
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