Financial and Health Powers of Attorney

Revocable Trusts

Life Situations

Next Steps

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)

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)