410.2K
WHBe careful leaving a big chunk of money in a bank account that’s only in your name. If something happens to you (God forbid), your spouse and kids can get stuck waiting on paperwork or even probate before they can access it… and probate can get messy, slow, and expensive.
And just so you know — there isn’t one nationwide limit. That “small estate” shortcut changes by state. A lot of states are somewhere around $50k–$150k, and California is around $208,850 (depending on the date and the details).
Quick fix you can do today: call your bank and ask to add a POD (Payable-on-Death) beneficiary to your checking/savings so the money can transfer directly to your person if you pass.
This happens a lot with self-employed people because the spouse isn’t on the account. If this is you, do yourself a favor and handle it this week.
#estateplanning #personalfinance #moneymoves
@whatsamortgage
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