After creating an estate plan, it is easy to fall into the trap of thinking that you have now done everything necessary to plan for the future. In many cases, however, people fail to make sure that all beneficiary designations as well as assets are titled in a way to reflect your plans.
It is critical to make sure that these assets are properly titled because when people die, they often have two types of estates: those that must be probated as well as “non-probate” assets.
Not Everything Passes through a Will