Thanks to recent changes in states laws, you can name a transfer-on-death (TOD) beneficiary to inherit assets as different as a brokerage account and a pickup truck. All it takes is some simple paperwork; there's no cost. The result is that after your death, the beneficiary will be able to claim the property quickly and easily, again without any expense and without any probate court involvement.
Naming a TOD Beneficiary for Government Bonds and Notes
If you own certain kinds of government securities, you can name someone to inherit them without probate.
Naming a TOD Beneficiary for Stocks and Bonds
Bypass probate by naming a beneficiary for your securities.
Naming a TOD Beneficiary for Your Car
If your state allows it, consider naming a transfer-on-death (TOD) beneficiary for your vehicles.
Special Transfer Procedures for Vehicles
Someone who inherits a car may be able to take title to it without probate court proceedings.