Financial Tip: TOD Accounts vs. Revocable Trusts

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Published: Jan. 12, 2022 at 1:24 PM EST
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(WBNG) -- In this week’s Financial Tip RJ Barber of Vision’s Investment Services discusses T.O.D. accounts versus revocable trusts.

“The benefit is clearly probate avoidance as mentioned T.O.D. accounts avoid the probate process by naming a beneficiary or beneficiaries to receive the asset directly when the account owner dies,” Wealth Management Advisor RJ Barber said. “A trust allows you to plan for incapacity if the creator of the trust becomes incapacitated, a successor or co-trustee can take over managing the account for the benefit of the creator.”

To contact RJ and his team at Visions Investment Services, visit the website here.