Fidelity - Incorrect account registration for Louisiana

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Transfer on Death,

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Is now eligible in 2023.

If joint with spouse you can use joint tenants in common or community property. Fidelity accepts both of these.

Your registration is simply your name and they are saying it's not a valid registration?

Thanks for that. Very interesting.

I was an executor of my uncle’s estate (in Virginia) last year. He had a will and various TOD accounts. That was more than difficult enough, mainly because of his greedy, good for nothing widow and her meddling weasel of a brother. Had my uncle lived in Louisiana, I would have lost my mind.

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There was recently a law passed here that now allows TOD to be added to individual accounts. It pretty much makes an individual account like an IRA upon death of the account owner.

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But it’s a complete shite show.

It doesn’t supersede forced heirship, for example. What it was supposed to be and what it is in practice aren’t really close.

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Would you think with the change in LA rules on TOD that I am good to leave the account registration as is?

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Fidelity et al will let you do whatever you want, but whether it’s following LA probate law is another story altogether. You won’t know until you’re gone, if that gives you any peace of mind.