Transfer on Death
Dealing with a death in the family is an emotionally draining and challenging time, but having to struggle with assets that are held up in probate as well can cause even more pain unnecessarily. To help make sure your dependents receive their inheritance according to your wishes, you may want to consider placing benefits especially life insurance, into trust.
This legal arrangement enables you to pass ownership of certain assets in your name directly to beneficiaries you choose, thus bypassing the potential entanglements of probate.
Your financial adviser can help you sort through the issues, and can tell you whether a Trust would be appropriate for your situation.
