Estate Planning

Tools to reduce or avoid probate — so your family spends weeks, not years, settling your estate.

Why plan ahead

Probate is expensive, slow, and public. The mechanisms to avoid or reduce it are well-established and not particularly exotic — most people just never get around to setting them up.[1]

A little planning while you're alive can save your family six figures in probate costs and avoid 18 months of court administration. The pages below cover the main tools available.

The probate-avoidance toolkit

  • Revocable living trust. Assets titled in the trust bypass probate entirely. Typical cost: $2,000–$5,000 to establish with an attorney.[2] Valuable for estates with significant real property, especially in statutory-fee states (CA, FL, NY).
  • Beneficiary designations on retirement accounts (401(k), IRA), life insurance, and annuities. These override the will and pass directly to the named beneficiary. Free. Review every few years to make sure they're current.
  • Payable-on-death (POD) on bank accounts and transfer-on-death (TOD) on brokerage accounts. Available in all 50 states under the Uniform Transfer-on-Death Securities Registration Act.[3] Free. Bypasses probate entirely for those specific accounts.
  • Transfer-on-death (TOD) deed for real estate. Available in approximately 30 states as of 2026.[4] Lets a home pass to a named beneficiary without probate. Often an alternative to a full living trust for people whose primary probate concern is their house.
  • Joint tenancy with right of survivorship (JTWROS). Property passes automatically to the surviving owner. Common for married couples. Has tax implications for non-spouse co-owners (loss of stepped-up basis).[5]

Getting started

A will alone does not avoid probate — it just gives instructions for how probate will proceed. If your goal is to avoid probate for your heirs, the tools above are what actually accomplish that.

Most estate planning attorneys offer a flat-fee package covering a will, durable power of attorney, advance healthcare directive, and usually a revocable living trust. Shop around: quotes typically range from $1,500 to $4,500 for a standard package.[6] More complex situations (blended families, business interests, estates approaching the estate tax threshold) warrant more specialized advice.

State-specific planning
Estate planning rules vary significantly by state — especially community property rules, TOD deed availability, and small-estate thresholds. See your state's page for what applies where you live.
Browse by state →

Sources

  1. American Bar Association, "Estate Planning Basics." Cornell Legal Information Institute — Wills, Trusts & Estates. law.cornell.edu/wex/estate_planning
  2. AARP, "How Much Does Estate Planning Cost?" and American Academy of Estate Planning Attorneys fee surveys.
  3. Uniform Transfer-on-Death Securities Registration Act, Uniform Law Commission. Adopted in all 50 states. uniformlaws.org
  4. Uniform Real Property Transfer on Death Act (URPTODA), Uniform Law Commission. Adoption tracker at uniformlaws.org
  5. IRS Publication 559, "Survivors, Executors, and Administrators." irs.gov/publications/p559
  6. Nolo, "How Much Does Estate Planning Cost?" and AARP published fee ranges for attorney-drafted estate plans.