Transferring Assets

There are basically three ways assets may be passed to your beneficiaries upon your death:

Transfer by Law

• Real Estate, Bank/Financial Accounts, or other assets titled as Joint Tenants with rights of Survivorship, Tenants in Common, etc. (often applies to assets with more than one owner).

Transfer by Contract

• Life Insurance (with named beneficiary or beneficiaries)
  Bank or Brokerage Accounts (with named beneficiary or beneficiaries)
  Retirement Accounts (with named beneficiary or beneficiaries)
  Trusts

Transfer by Probate (Law)

• Small Estate Last Will and Testament (most states offer a less complicated and more streamlined probate process for administering small estates – thresholds and availability vary by state)
  Last Will and Testament
  Intestate Death (die without a will)