When it comes to protecting your loved ones and making sure your wishes are honored, how your assets are titled is just as important as having a will. Asset titling refers to how ownership of property is legally structured, specifically, whether you hold something in your name only, jointly with someone else, or in a trust. These decisions can determine how your assets pass, whether they go through probate, and even how they're taxed.

Here's a quick breakdown of your options:

  • Individual Ownership This is the simplest option. Basically, you are the sole owner and have complete control. However, assets in your name alone typically go through probate when you pass and may be subject to creditor claims.
  • Joint Ownership
    • Tenants in Common: You and one or more other individuals each own a specified portion of the asset. Your share is passed according to your will and doesn't automatically go to the other owner(s). It also is fully subject to the creditor's claims of each joint owner. This setup doesn't avoid probate.
    • Joint Tenants with Right of Survivorship: Ownership is shared equally, and if one person passes, their share goes directly to the surviving owner(s) without going through probate. Assets held with rights of survivorship would also be subject to creditor claims.
  • Payable on Death (POD) / Transfer on Death (TOD) These are common for bank and brokerage accounts. You remain in control during your lifetime, and the asset transfers directly to your chosen beneficiary after your death without going through probate. However, these assets may still be subject to estate taxes.
  • Trust Ownership Placing assets in a trust can help you avoid probate and, depending on the type of trust, offer potential tax and creditor protection. This route may require more upfront planning, but it provides more control and privacy.


Titling your assets correctly can make a world of difference when it comes to reducing stress, saving time, and protecting your estate. Beneficiaries could enjoy quicker access to funds and more privacy when probate is avoided, all from simply updating a title.

Every situation is unique, and laws can vary by state, so it's a good idea to speak with a professional. With proper guidance, you can feel confident that your legacy will be carried out just as you intend.