Are interest rates going up??

ultrarunner · Mar 22, 2018

dfkrug said:
I don't see how. Those beneficiaries are not named owners of the acct. Yet. After it transfers, then maybe so.

BTW, California has a car titling feature that allows for automatic transfer upon death, too.

All people with assets and kids, or others you want to benefit from your death, should have a living
trust. I have been a successor trustee, and liquidating such a trust after death avoids massive probate fees
and dealing with courts or lawyers.

I'm behind on the trust aspects of planning... hard to get a consensus of those who I would leave things to... one brother is adamant that an inheritance ruins too many kids... even the thought of or knowing about one...

ultrarunner · Mar 22, 2018

I just spoke with the credit union and they do not accept Payable on Death for Certificate of Deposits... it also will not extend the Insurance Limit as this is based on the singers of the account... so one person is 250k and two is 500k etc...

Here is a link/calculator for FDIC

FDIC: Electronic Deposit Insurance Estimator (EDIE)

Unless I am missing something POD does not extend/add coverage

prichard · Mar 22, 2018

ultrarunner said:
I'm behind on the trust aspects of planning... hard to get a consensus of those who I would leave things to... one brother is adamant that an inheritance ruins too many kids... even the thought of or knowing about one...

I know in the past you mentioned leaving cars to neices or nephews. Perhaps those you could set up that if they're 18+ else a museum?

ultrarunner · Mar 22, 2018

I'm generally well organized but lacking in this area... no dependents.

Most of the retired people I know are very dependent on savings... very few have any position in equity markets...

Still remember one of Mom's neighbors... her husband was a controller that pre-deceased her by 20 years... he left detailed instructions that she should ladder the CD's and use the interest to supplement Social Security....

She was quite concerned as she watched her CD income drop by 80%... after he had passed... he had thought the interest would provide a nice income... the only thing she dipped into the principal was to put a new roof on her home... she passed at 102 and all but the last 6 weeks were spent at home... moved to a retirement community and liked it... had a heart attack and the was it... no lingering or regrets.

Those dependent on Interest have certainly had to belt tighten for some time...