Search found 26 matches

by VanGuppy
Mon Mar 02, 2020 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: VG online transfer ownership to new accounts
Replies: 2
Views: 159

Re: VG online transfer ownership to new accounts

As a beneficiary of an existing Vanguard account I just called and opened new Vanguard account then transferred ownership. The new brokerage accounts are there, but when would I see then transferred mutual funds show up? Maybe someone has some experience with this. Thanks EDIT: 3:29pm I also had to...
by VanGuppy
Mon Mar 02, 2020 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: VG online transfer ownership to new accounts
Replies: 2
Views: 159

VG online transfer ownership to new accounts

As a beneficiary of an existing Vanguard account I just called and opened new Vanguard account then transferred ownership. The new brokerage accounts are there, but when would I see then transferred mutual funds show up? Maybe someone has some experience with this. Thanks EDIT: 3:29pm I also had to ...
by VanGuppy
Wed Feb 26, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: FDIC coverage on no longer joint account
Replies: 5
Views: 551

Re: FDIC coverage on no longer joint account

You can increase your coverage easily by adding me as a POD beneficiary. I don't mind. A possibility, but more likely to add 2-3 charities/non-profits. No experience at this. Please excuse me not researching Bogleheads & FDIC before starting post. It now appears to me If it is a 1 owner account I g...
by VanGuppy
Thu Feb 20, 2020 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: FDIC coverage on no longer joint account
Replies: 5
Views: 551

Re: FDIC coverage on no longer joint account

After more bank conversation it seems, until April rules changes, my deceased parent currently listed as POD counts for extra $250k, but I could not add a new deceased beneficiary or plug one into FDIC calculator.
by VanGuppy
Wed Feb 19, 2020 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: FDIC coverage on no longer joint account
Replies: 5
Views: 551

FDIC coverage on no longer joint account

This is sort of an after action post follow up to another thread I had about TOD accounts. My parent was the primary and I the secondary owners of a joint account together. My parent passed recently and I notified the bank promptly. They asked if I wanted my parent's name removed from the account. I...
by VanGuppy
Thu Feb 13, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Online bank recommendations
Replies: 8
Views: 1023

Re: Online bank recommendations

Ally bank for savings/checking larger share and credit union same for smaller share.
by VanGuppy
Thu Feb 13, 2020 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Thank you everybody for all the posts. They have been enlightening. Well, the only asset I transferred so far was the joint bank account into only my name. I retained a lawyer after discussing the non-probate assets and the unknown probate bills. She mentioned not even filing probate and paying the ...
by VanGuppy
Wed Feb 05, 2020 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

For items in the will which actually weren't coming to me (I got the $ someone else got the goods) I had to wait till I got my "letters" from the court giving me executor power, worked with the estate lawyer on when I could transfer items, kept my ledger of in/out money for expenses, last hospitali...
by VanGuppy
Tue Feb 04, 2020 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Distributions means to beneficiaries. They get what's left after debts, taxes and expenses. TOD assets pass outside the Will. They can create lots of problems so except in tiny estates we try to avoid them except for life insurance and retirement benefits. Rephrase: So everybody agrees TOD assets a...
by VanGuppy
Mon Feb 03, 2020 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Just found this on the VG inheriting account FAQ: If the decedent's estate goes through probate, the property in the estate can't be transferred until the court proceedings have concluded. If Vanguard accounts are part of the estate, probate may delay the inheritance of the accounts. Maybe there's ...
by VanGuppy
Sun Feb 02, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Just found this on the VG inheriting account FAQ: If the decedent's estate goes through probate, the property in the estate can't be transferred until the court proceedings have concluded. If Vanguard accounts are part of the estate, probate may delay the inheritance of the accounts. Maybe there's r...
by VanGuppy
Sun Feb 02, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Insufficient assets in an estate - What to do?
Replies: 25
Views: 3334

Re: Insufficient assets in an estate - What to do?

I would check this with an estate lawyer. That said I believe the TOD is part of the estate, just doesn’t go through probate. So those assets could be reached by a creditor of the estate. OP From other thread. That was my assumption also (see include bills/debts). If it was part of the estate for t...
by VanGuppy
Sun Feb 02, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

You should notify all TOD and non-TOD accounts as soon as possible. They may want to take steps to protect the account from further actions and to protect against fraud. I notified my online bank by phone, my local brick-and-mortar bank was done in-person. Online banks (and credit card companies) w...
by VanGuppy
Sat Feb 01, 2020 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

If the named beneficiary happens to be the same person as the will's executor, it's just a coincidence. One person has two roles, there's no interaction between them. Yes, remembering there 2 distinct hats goes a long way. So whose role is it to start the TOD claim process, the beneficiary or execu...
by VanGuppy
Fri Jan 31, 2020 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

^^^ My local bank got the SS notification one week after the date of death, so it could have slipped between the cracks. If your rep offered to create the estate account, it's probably a good idea to do so. Everything is fresh in their minds (and you have the paperwork), so it will be easier to tak...
by VanGuppy
Fri Jan 31, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

I contacted the local bank and left a message to remove me as the ATF and inform of my parent's passing. Didn't think I was clear enough so called back and got a rep. He said account already had a hold on it from yesterday! Perhaps Funeral Home->SS->Bank. He said I was the beneficiary and could just...
by VanGuppy
Thu Jan 30, 2020 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

I contacted a bank with a joint account by phone. They took some account information to verify then asked if I wanted account closed to get a check (yech) or remove the parent's name leaving mine. I chose the latter. They told me to write a letter of instruction to that effect, photocopy of death ce...
by VanGuppy
Thu Jan 30, 2020 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

A))))))) You should notify all TOD and non-TOD accounts as soon as possible. They may want to take steps to protect the account from further actions and to protect against fraud. I notified my online bank by phone, my local brick-and-mortar bank was done in-person. A)))) Online banks (and credit ca...
by VanGuppy
Thu Jan 30, 2020 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

I don’t know what “protecting” the account at Vanguard means, but informing Vanguard of the death of the account owner is a good idea and so it is good that you have done so already. As others have said, the taxable account with a TOD and the IRA with a beneficiary designation can be transferred at...
by VanGuppy
Thu Jan 30, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Sorry to hear of your loss. This should serve as a reminder that anyone with substantial assets could leave their assets to their children in trust rather than outright. That would keep the children's inheritances out of their estates for estate tax purposes, and would protect their inheritances fr...
by VanGuppy
Thu Jan 30, 2020 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Sorry to hear of your loss. This should serve as a reminder that anyone with substantial assets could leave their assets to their children in trust rather than outright. That would keep the children's inheritances out of their estates for estate tax purposes, and would protect their inheritances fr...
by VanGuppy
Thu Jan 30, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Sorry to hear of your loss. This should serve as a reminder that anyone with substantial assets could leave their assets to their children in trust rather than outright. That would keep the children's inheritances out of their estates for estate tax purposes, and would protect their inheritances fr...
by VanGuppy
Thu Jan 30, 2020 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

I don’t know what “protecting” the account at Vanguard means, but informing Vanguard of the death of the account owner is a good idea and so it is good that you have done so already. As others have said, the taxable account with a TOD and the IRA with a beneficiary designation can be transferred at...
by VanGuppy
Thu Jan 30, 2020 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Re: Recent passed parent had Vanguard TOD and will. What now?

Sorry, I didn't see any of your responses till just now. Some of the more direct responses were very helpful, but I'm getting a little lost in parts of the back and forth between the expert bsteiner and others. Please bear with me while I absorb it all before responding with additional questions. I ...
by VanGuppy
Thu Jan 30, 2020 1:36 pm
Forum: US Chapters
Topic: Sad news: LadyGeek's husband has passed
Replies: 352
Views: 25491

Re: Sad news: LadyGeek's husband has passed

My deepest sympathy LadyGeek for your loss and sharing your story with us. In my own personal case I wish I were even a fraction strong as you have been.
by VanGuppy
Wed Jan 29, 2020 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7397

Recent passed parent had Vanguard TOD and will. What now?

The facts. Parent recently deceased. Only child TOD beneficiary of both taxable mutual funds acct / IRA acct at Vanguard. Child has IRA acct at Vanguard. There is a will to go through probate. Both parent and child domicile in NY in joint ownership house with survivorship. There are some non-TOD ban...