Thwarting will or trust via asset titling
“Clients, at times, naively believe that their entire estate will simply pass in accordance with the terms and provisions of their will or trust,” Charlie Douglas, director of wealth planning at Cedar Rowe Partners, said.
In such cases, it’s easy to overlook the importance of how assets are currently titled and how beneficiary designations are actually set forth, he said. For example, assets owned in joint tenancy with rights of survivorship will pass directly to the surviving joint tenant, even though the will or trust provides that those assets be distributed elsewhere.
