Lucretia Ryan

Comments

• The issue with transfer on death is there is no incapacity clause. So for the example I used in my article if the mother becomes incapacitated like dementia and the daughter needs to sell the house to pay for assisted living she cannot with a transfer on death. She has to go to court. A power of attorney document may work or may not depending how it’s written. So that is the risk on not having a revocable living trust and just a transfer on death. So people just need to make an educated decision on what works for them and understand the risks. Thanks for your comment

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 26, 2026

• You are correct. Just to clarify. Her father didn't have enough bank assets to continue to pay all of the costs to maintain the house. The majority of his assets were tied up in the equity of the house which she couldn't sell until probate was finished. That is why she had to use her own assets until she could sell the house. Thank you for pointing this out.

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 25, 2026

• I agree a good estate attorney who comes highly recommended is worth it. But I’d also recommend educating yourself especially around the tax implications. The first time I used an attorney recommended to me by my cpa the attorney didn’t set up a revocable living trust. I now have an excellent estate attorney who setup my estate and educated me and it is totally a different experience. My estate is so much better protected. The cost was totally worth it.

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 24, 2026

• the way you set up your beneficiaries is critical. As you correctly stated the beneficiary over rides what you have in the will. One man had $2 million in an account with a girlfriend that he hadn’t seen in 30 years as a beneficiary and after he died she got the $2 million even though the 2 million was supposed to go to his brother as the will stated.

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 24, 2026

• i agree that my first choice is to use a good estate attorney and not a lawyer who does this on the side. Each state has different rules. However for people who don’t have these documents I would recommend these documents. Many people don’t have these 4 documents. My estate lawyer added a lot of value in helping me think through many issues.

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 24, 2026

• The issue that you need to worry about with transfer on death is what happens if you become incapacitated like my mother (dementia) was and you need to sell her house to pay for assisted living. A power of attorney may help if written correctly or maybe not. If I owned real estate I would setup a revocable trust with an incapacity clause. I just want people to make an educated decision and I would ask your attorney what happens if you become incapacitated as I highlighted in my article

  Post: The Financial Stress a Simple Document Could Have Prevented

  Link to comment from May 24, 2026

• Or you can buy cheap reading glasses in bulk and leave them all over the house as I do.

  Post: Help Me Out People—Is This Just Me?

  Link to comment from January 8, 2026

• Wow. I learned something new about the ERISA protection of the 401k vs an IRA if you are involved in a lawsuit. Thank you. That's very helpful

  Post: Consolidating 401(k)s in retirement

  Link to comment from January 8, 2026

• Yes my friend was asked if she was going to need surgery. She didn't think so,so she replied that she didn't. But when she reviewed her records she saw her doctor said that if the shots in her knees didn't work then she would need surgery. So the insurance company could deny paying for her surgery in the future.

  Post: What I Learned Trying to Leave an Employer-Sponsored Medicare Advantage Plan

  Link to comment from November 20, 2025

• Right. A friend had breast cancer and her bill was $1 million dollars. Since she had Original Medicare plus a G supplement all she had to pay was her $257 deductible.

  Post: What I Learned Trying to Leave an Employer-Sponsored Medicare Advantage Plan

  Link to comment from November 20, 2025