When It Comes To Bank and Investment Accounts Less Can Be More

When reviewing your estate plan, it might pay to look at how many bank, savings, checking, and investment acounts that you hold.  Many clients simply have too many.  They keep their stock certificates in a lock box - making them difficult to trade and very difficult for heirs.

They maintain mutilple accounts which drive up fees and can result in lost assets both during life, and at death.

Furthermore, a hodge podge of small accounts with multiple beneficiaries my result in a small probate fee savings but a division of assets that is unequal or not what was intended.  So multiple acounts are harder to manage, hard to pla, and more likely to casue a dispute among heirs.

You don't have to take my word for it.  I don't often agree with the New York Times, but in this article they make some great points about the difficulties of large numbers of accounts and what to do about it.

The New York Times On How Many Accounts Are Too Many - Less Is More.

David M Frees III
Asset Protection * Estate Planning *  Wills and Trusts

David M. Frees III is Chairman of the Trust, Estates, and Wealth Preservation section of Unruh, Turner Burke and Frees with offices serving all of South Eastern Pennsylvania including Chester County, Montgomery County, Berks and Bucks counties, Philadelphia and Lancaster counties including Malvern, Phoenixville, West Chester, Devon, Berwyn, Chester Springs, Doylestown, Kennet, and many more communities.

David Frees is rated highly by Martidale.com and has attained the highest rating by AVVO.  His rating of 10 (Superb) on a scale of 1-10 and client and lawyer reviews be viewed here.

You can schedule a consultation in person, or by phone with David Frees through his assistants/paralegals Donna, Denise, and Tara at 610-933-8069.

David can also be reached by email at dfrees@utbf.com

Please note, however, that David meets with many clients each week and in order to give them his full attention, he is not always availble to reply immediatly to cell phone or email requests.  However, immediate assistance can always be reached through 610-933-8069.

David Frees is a prolific author on legal topics and in addition to the articles and blogs featured on this site, please feel free to view his postings at http://www.utbf.com/trust-estate