A Beneficiary Designation is an Estate Plan-Educating Clients and Heirs
There are several methods of transferring property at death. A transfer of probate property by a valid will or a deed of transfer will generally involve the assistance and advice of an attorney. While transferring property through probate is unavoidable in certain cases, this does have its downsides. As the probate court becomes involved, the transfer of property can become more costly and delays can occur. Some of the largest transfers of wealth made by Americans are directed by beneficiary designations and outside of probate.
Hopkins, Jamie Patrick and Kurlowicz, Ted, "A Beneficiary Designation is an Estate Plan-Educating Clients and Heirs" (2015). Faculty Publications. 26.