A Transfer on Death Plan or other beneficiary document supersedes your will and turns what might have been probate assets into non-probate assets. You can add this designation to investment accounts and even bank accounts.  It is the designation, not the Will, that controls the transfer. You can name beneficiaries on retirement accounts as well which also keeps the assets out of your probate estate. You will want to coordinate this with your overall estate planning to make sure you understand how the assets will pass and to whom – consult with an attorney.  Read more about Planning for Transition at finra.org.