What to Use and Not Use If Doing Tax or Trust Planning?

DO NOT USE (if doing tax or trust planning)

 OK TO USE
1. Joint Tenants With Right of Survivorship (JTWROS) 1. Community Property
2. Community Property With Right of Survivorship (CPWROS) 2. Tenants in Common (TIC)
3. Joint Tenants ( Jt. Ten.) 3. Joint Tenants Without Right of Survivorship
4. Pay On Death (POD) 4. Multi-Party Account Without Right of Survivorship
5. Transfer on Death (TOD) 5. Individual account (without POD or TOD beneficiary)
6. [Your Name(s)] as "Trustee for" one or more person(s) as beneficiary/ies 6. A "plain vanilla" (old fashioned) joint account (without a right of survivorship)
It is all right to have a modest-sized account styled as JTWROS or set up with a POD or TOD arrangement. Having a modest-sized account pass outside your Will won't 'ruin' your entire estate plan.