Skip to main content
No. of Recommendations: 0
Most of the complaints you listed over the use of TOD are in no way avoided by doing the exact same thing (leaving it all to a grand-niece) by using a Will instead (absent the ability to contest the Will).

Maybe. But if the money had been left to the grand-niece via the will, then it would have first been available to the estate to pay the expenses with grand-niece getting the remainder. At least that would have been a possibility which did not exist because of the TOD. Instead, the only other property, which was the condo, had to be sold to pay for the expenses. And the other heirs would have had a way to fight to have the cash used instead of selling the asset, but they didn't have that available to them because of the TOD as the account was therefore outside of the terms of the will.

Poor planning will muck up any plan.

I suspect this was more a case of DIY planning having unintended consequences vs. poor planning.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.