What Happens to Your Money if Something Happens to You? How Wills, Trusts & Powers of Attorney Work With Your Accounts (and When They Don’t)
A daughter spent an hour on hold with her dad’s bank, trying to pay his bills while he was in the hospital, only to hear, “We can only speak with the account holder.” She had his Will. She thought that covered it. But a Will generally takes effect only after death, so it typically doesn’t give anyone access while someone is alive.
Having an estate plan and having your accounts set up to match it are two very different things, and a mismatch can work against even the most carefully considered documents. Join Mitzi founder and estate planning attorney Katie Katz for a free, 45-minute live session on how it all connects, whether you’re planning for yourself, a parent, or both.
Katie will cover:
While you’re alive: what a Financial Power of Attorney and Health Care Directives are commonly used for, and why a Will typically can’t help here
After you’re gone: what Wills and Trusts are commonly used for, and how different accounts typically pass (by Will, beneficiary designation, joint ownership or Trust)
Where plans go wrong: how account titles and beneficiary forms can end up controlling instead of your documents, and how to help the two line up
Where to start: practical next steps and questions to ask your bank or advisor, whatever your age or stage
Everyone who registers gets our Household Handoff organizer free.
You can submit questions anonymously when you register. Katie will spend the last 15 minutes on the themes that come up most.
Helping a parent too? At the end, Katie will share The Parent Plan, a three-evening live course starting Tuesday, Dec 1, right after Thanksgiving. You don’t need to have the big talk over the holidays. Just keep your Household Handoff organizer in mind while you’re with family and notice what you don’t know yet. Then join us in December, and we’ll walk through how to start the conversation, the paperwork and the accounts, with The Mom and Dad File organizer to work through together.
Mitzi is live in Michigan. Outside Michigan? Join the waitlist for your state when you register.
Educational only, not legal advice. Estate planning laws vary by state. Mitzi is not a law firm. Please consult an attorney for guidance specific to your situation.