What kinds of property are not controlled by my legal documents?

Non-probate assets such as joint bank accounts, life insurance proceeds, accounts designated as “in trust for,” accounts designated as “pay on death,” brokerage accounts designated as “transfer on death,” and any other assets with a designated beneficiary do not pass under your legal documents. Generally, these assets pass outside your legal documents to some designated beneficiary or to a survivor. Since these assets do not pass under your legal documents, they cannot be used to carry out any tax planning you may have incorporated into your legal documents or any dispositions you make in your legal documents.