Protecting Your Assets: POD, TOD, and Prenuptial Agreements

While healthcare wishes are critical, complete peace of mind also involves your financial assets. In my work helping local residents organize their "Master Lead List" of life documents, I often see three key tools used to protect family wealth:

• POD and TOD Accounts: These are often called the "Easy Button" of estate planning. A Payable on Death (POD) designation on your bank accounts or a Transfer on Death (TOD) on your investments allows these assets to bypass the long, expensive probate process and go directly to your loved ones. For property like a home, a TOD Deed is a powerful way to ensure your family isn't stuck in court for months.

• Prenuptial Agreements: Many people think "prenups" are only for the wealthy, but they are actually practical tools for anyone entering a marriage with existing assets, businesses, or children from a previous relationship. While not always legally required in Mississippi, having your Prenuptial Agreement notarized is a vital protection against future disputes over identity or "full disclosure".