Are there other ways of leaving property to my beneficiaries other than through a will or a trust?
Transcript
As you probably have heard, one of the things that you want to do with regard to your passing is, try to avoid legal fees. Try to avoid time and energy spent or invested in trying to get the assets that you own, to get them to the people that you want to have them. One of the ways to do that is, for example in connection with real estate, you can actually set up your deed on the real estate such that there are certain kinds of deeds that are specific, such that you still have all the property rights that you would otherwise have, but upon your passing, the property itself will go to the heir or heirs that you want it to go to, and you can avoid probate or even taking that asset through probate.
Another way to do bank accounts, put the payable upon death or it could be called the payable on trust, put the names of the people that you want to have those assets directly on those forms. Another way to do it is, in terms of how you title property, or cars, or personal property for that matter, titling them such that the person that you want to have it will be the person that will be, by operation of law, will receive the asset.
