A Better Way to Avoid Probate: Transfer on Death Desginations
The ease and simplicity of joint ownership, without the disadvantages listed above, are available through transfer on death directions. Virtually all bank accounts, certificates of deposit and securities may be passed to beneficiaries through this technique. Beneficiary designations may be made with the assistance of your account representatives. Your local Missouri license bureau office will assist you in placing a transfer on death direction to a beneficiary on your automobile title. Even real estate can be transferred free of probate by the use of a beneficiary deed. However, this approach is inflexible. Management of your real estate after your lifetime could become complicated if your beneficiaries and their spouses are not in complete agreement regarding plans for the property.