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we went and confirmed the beneficiaries on our chase joint accounts today , no problem , all were listed and in effect .
spoke to them about having them babysit the etf we now have at vanguard and they will give us a private client account for just moving it there . no problem with adding beneficiaries to a joint account either .
since we will be in the market for a mortgage the discounts and perks that go with that account can make it worthwhile .
if fidelity does not offer cash promo's as of sept. again we likely will switch over to chase/jpm from vanguard and take advantage of the private client account status . .
we had opened up an account there a while ago because they gave us 600 bucks for opening the account .
a chase account with a lot of perks . they require 250k in cash or securities .
free bank wires , discounts on closing costs , priority mortgage processing , free admission and discounts to arts and cultural things , no fees for anything , 5 buck stock trades and a bunch of other perks . since we are likely going to take a mortgage we can save enough to make it worth having this account .
we already have accounts at chase so it is just utilizing more of what we already have .
having this one etf sitting at vanguard is doing nothing for us , i may as well let jpm/chase baby sit it and get some perks
spoke to them about having them babysit the etf we now have at vanguard and they will give us a private client account for just moving it there . no problem with adding beneficiaries to a joint account either .
That's a pretty good idea. I think if we do the same thing at Citibank, they'll knock $100 off the Citi Prestige annual fee.
Regarding the beneficiary policy, if you open a Vanguard Wessley (we are retired) will your Will dictate where the funds go? We have funds at Fidelity so we have beneficiaries listed on the accounts. They mentioned they have a fund similar to Vanguard however it seems the fees are higher.
Fidelity also said they do not anticipate and cash incentives for transferring funds.
the will , will dictate if no beneficiaries . but the funds cannot be gotten to by the executor until the will goes through probate court. depending on location that can take months and be costly .
fidelity has some funds that are equals of vanguards on the index side but cheaper . they have managed funds with higher expenses and better offsetting performance . they also have funds with higher expenses that lag .
it is all about the portfolio you put together .
i spoke to fidelity too and our rep said the same , no cash promo's on the horizon . so we are hoping to get a call from the person at chase we met friday , today so we can go in .
1) Again, thanks to Mathjack for this topic. Excellent.
2) I'm only half-way through the thread...did you make your changes?
3) I suppose the rules are the rules, but some of this just shows the BS people are forced to go through that really doesn't need to be.
If a child is specifically named to NOT inherit anything, it shouldn't matter whether there's a line about whether they pre-decease the parent.
Or perhaps I should ask can someone tell me why it should matter. Because if not, that's exactly the kind of crap that doesn't need to be that way. If you're specifically "dis-inherited" that's it -- period. Why does it need to be more complicated than that?
4)
Quote:
I need to check all of my checking accounts at Chase and Bank of America for the beneficiaries. I don't know that I have any.
Yeah, I'm single I guess I need to get TOD/PODs on my checking accounts. (401k and IRA have them already)
5)
Quote:
i opened up a can of worms lol
And many of us are grateful that you did!
Heck, I'm single with no kids, and I'm still reading and digesting every word.
My focus may be more asset protection for me, before I go to the great beyond, but I've still got estate planning on my radar. So far it's fairly basic because of my situation, but I already hate probate with a passion.
I really don't want to leave a mess behind. And want any heirs to get as much of what I have as possible.
Last edited by selhars; 08-28-2017 at 12:32 PM..
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