Wills vs. Beneficiaries

Don't rely on a will alone

Use Beneficiary and Transfer on Death (TOD) / Payable on Death (POD) Designations. A will is important—but it may not control many of your most important assets. Beneficiary and TOD/POD designations help ensure your assets go directly to the people you love—quickly, privately, and efficiently.

Why beneficiary and TOD/POD designations matter

They go directly  to your loved ones

• These assets pass outside of probate and transfer directly to the named beneficiaries—no court process required.

Faster access when it matters most

• Your loved ones can receive assets sooner, which can help with immediate financial needs and avoid delays.

More privacy, less stress

• Avoid the public probate process, reducing stress for your family during an already difficult time.

Assets that often allow beneficiary or TOD/POD designations

• Retirement accounts (401(k), IRA, etc.)
• Bank accounts (POD)
• Brokerage and investment accounts
• Life insurance policies
• Vehicles (TOD)
• Real estate (TOD) (availability varies by state)

• Retirement accounts (401(k), IRA, etc.)
• Bank accounts (POD)
• Brokerage and investment accounts
• Life insurance policies
• Vehicles (TOD)
• Real estate (TOD) (availability varies by state)

Will vs. beneficiary / TOD-POD designations

A Will

• Goes through probate
• Can take months (or longer)
• Becomes public record
• Controlled by the terms of the will
• May not cover all assets

Beneficiary / TOD / POD designations

• Pass outside of probate
• Usually faster access
• Generally private
• Controlled by your designation
• Covers specific assets you designate