Skip probate
Ways to pass on assets without probate: one-page chart
One form per account can skip the court.
Probate is the court process for settling an estate. It can take months and cost money. Many things you own can skip it with the right form.
| What you own | How to skip probate | Where to set it up |
|---|---|---|
| Bank accounts | Payable-on-death (POD) beneficiary | Your bank, online or at a branch |
| Investment accounts | Transfer-on-death (TOD) beneficiary | Your brokerage |
| Retirement accounts (IRA, 401k) | Beneficiary designation | Plan administrator or HR |
| Life insurance | Beneficiary designation | Your insurer |
| Home | Transfer-on-death deed (many states) or joint ownership with right of survivorship | County recorder's office |
| Car | Transfer-on-death title (some states) or joint ownership | Your state DMV |
Good to know
Rules vary by state, especially for homes and cars. A living trust is another way to keep many assets out of probate.