What Is a Dispositive Document?
When most people think about creating a plan for the transfer of their estate they think about making a will. A will is obviously a dispositive document as it is used to transfer property at death. But in addition to wills, there are seven other types of dispositive documents that may be used to transfer property at death:
Transfer-on-death Deed for the transfer of real estate without probate
Beneficiary Designations on life insurance policies, IRAs, 401ks, and annuities
Payable-on-death beneficiary designations for bank accounts and c.d.s
Transfer-on-death designations for brokerage accounts
Life Estates in real estate
Revocable or Irrevocable Trusts
Joint Tenancy Ownership of real estate or financial accounts
Led by James T. McNary and his 30 years of experience, McNary Law Office, P.A. commits to working with you on your estate, asset and business succession planning. We offer the guidance and expertise you need.
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