Are there other ways of leaving property to my beneficiaries other than through a will or a trust?

Video Transcription:

Yes, there are many ways to leave property to beneficiaries other than a will and a trust. But honestly, none of them are actually as good as a will or a trust. A lot of people leave their assets and joint accounts with their children. So if you have three kids, Sally has one joint account, and Johnny has another, and Susan has a third. And then when you pass away, Sally has received three times more than Johnny and Susan, because you haven’t been able to equalize them during your lifetime. So that’s one of the problems with passing your assets through joint accounts. It’s much, much better to leave a revocable living trust, transfer your assets in so that everybody receives equally, if that’s what your plan is. Have any more questions? Contact us today to schedule a free consultation! Doane & Doane – Top rated Tax & Estate Planning Attorneys