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What are additional alternatives to a Will and Trust?

Additional alternatives to a Will and trust include titled property owned as joint tenants and tenancy by the entirety. Property held within a tenancy pass automatically outside of probate to the surviving owner upon the death of the first owner.

Additional alternatives to a Will and trust include Payable on Death and Transfer on Death beneficiary designations.

Although alternatives to a Will or Trust exist, there is no substitute for a trust because within a trust you can establish how your beneficiaries will receive property from the trust, at what ages and what conditions, and what percentage of the property will pass to each beneficiary. Trusts allow you to distribute property effectively, efficiently and at a savings over probate.

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