Table of Contents
How to Avoid Probate1
| Introduction | 1 |
| What is Probate? | 1 |
| Why We Want to Avoid Probate | 1 |
| Option 1: The Revocable Living Trust | 1 |
| Option 2: Joint Ownership with Right of Survivorship | 4 |
| Option 3: Beneficiary Designations | 8 |
| Option 4: Payable-on-Death Accounts | 11 |
| Option 5: Transfer-on-Death Registration | 15 |
| Option 6: Transfer-on-Death Deeds for Real Estate | 18 |
| Option 7: Lifetime Gifts | 20 |
| Option 8: Ownership by Business Entities | 23 |
| Option 9: Small Estate Procedures | 28 |
| Option 10. Proper Titling and Coordination | 32 |
| Summary | 35 |
| Review Questions | 36 |
Answers to Review Questions38
Glossary41
Index42
Course Details
Author: Steven M. Bragg, CPA
Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.
Publication/Revision Date: 10/9/2026
Course Exam Questions (online): 15 (multiple-choice)
Program Delivery Method: NASBA QAS Self-Study
Available Formats of Course Text: PDF or PDF plus printed copy sent in the mail
Course Level, Prerequisites, and Advance Preparation Requirements
| License | Course Level | Prerequisites | Advance Preparation Requirements |
|---|
| CPA | Overview | None | None |
Sponsor ID Numbers
National Registry of CPE Sponsors ID: 107615
State CPA Board Sponsor ID Numbers (where applicable)
Florida Division of Certified Public Accounting: 0004761
Hawaii Board of Public Accountancy: 14003
New York State Board for Public Accountancy: 002146
Ohio Accountancy Board: CPE .51 PSR
Pennsylvania State Board of Accountancy: PX178025
Texas State Board of Public Accountancy: 009349
Learning Objectives
As a result of studying the course material, you should be able to meet the objectives listed below:
- Recognize the tools available for avoiding ancillary probate for real estate holdings.
- Recall how a pour-over will can be used to avoid probate.
- Recognize the risks associated with adding another party as a joint owner to property.
- Specify how beneficiary designations can override a will.
- Recall the probate avoidance issues that can cause equalization issues among heirs.
- Recognize the limitations of payable-on-death accounts.
- Recall the nature of beneficiary rights under the Uniform Transfer on Death Securities Registration Act.
- Recognize the factors that can invalidate a transfer-on-death deed.
- Specify the probate avoidance methods that can trigger gift tax reporting.
- Recall how probate avoidance can increase personal accountability under certain circumstances.
- Recognize the weaknesses of probate avoidance techniques in regard to asset distributions.
- Recall how probate avoidance differs from tax avoidance.
- Recognize what can undermine a revocable living trust's effectiveness.
- Specify when a direct transfer-on-death designation may be inappropriate.
