What is a Totten Trust

What is a Totten Trust

 What is a Totten Trust? A Totten trust is a common testamentary substitute. A testamentary substitute is an instrument that determines the disposition of a decedent’s property on its own, without the need for a will. A Totten Trust (also known as a “Payable on Death Account) is created during the lifetime of a decedent….

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Estate Planning Basics

About estate planning, wills and trusts in New York Estate Planning Basics 1.  Will: A legal document that provides for the distribution of your assets upon your death. 2. Codicil: This is a document that supplements one’s current will. 3. Probate: The legal process of proving the validity of a will. This proceeding often takes…

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