Transfer on death (TOD) accounts can keep your estate planning intact, while keeping your beneficiaries out of court. If you’re among the 57% of adults who don’t currently have a will or trust, your family is likely headed to probate court.

When a loved one dies leaving property, debts and a mortgage, and if he did not have a living trust, probate is required to sort everything out.

Gifting can be done for other reasons during life or as bequests at death. The reasons for doing so could be to accomplish non-tax or tax goals.

The perception is that trusts are for the very wealthy and that they cost a ton of money to set up. The reality is a trust can be a fantastic tool for the average person or couple, because it simplifies things in the event of your death.