What are some ways to plan?
Some of the ways to plan that people have used traditionally are number one, using Joint Tenant Rights of Survivorship. Probably, 80-90% of the property is owned by married couples in United States are owned as Joint Tenant Rights of Survivorship. The couples understand that when the first of the couple passes away, that the other will receive the asset upon death and that will in fact happen. The second way to plan is by using a will and that planning process is one that does in fact, direct the property to whom one wants, but does so by sending the property through probate and the third way to plan is by using beneficiary designations and that is the typical manner that one would plan by using beneficiary designations on life insurance policies, IRA accounts, 41 K policies, Annuities and the like.