This is the term used to describe the process for establishing arrangements for the transfer of property after a person dies, to the people that a person wants to have the property. One of the main goals is to plan for the transfer of property, without the property going through Probate.

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Common tools for directing the transfer of property upon death include special deeds for real estate and '"pay on death" directions for financial assets. A "ladybird" deed is used to pass property upon death, while retaining for the Owner, the unlimited right to do as they will with the property during their lifetime, including use of the property as collateral for loans and even sale of the property. 

Financial institutions generally permit the holder of an account to designate one or more persons to whom the funds in the account must go, upon the death of the account holder. This often includes not only checking and savings accounts, but also retirement accounts like IRAs and 401 K accounts. 

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Trusts, described in a separate section are also used to pass property on death. Finally, a Will is often used to direct the transfer of property, but in that case it must go through the Probate process described in a separate section. 

Estate planning should be undertaken with an Attorney who can help you determine the best options, considering your individual circumstances. Complicated ( and expensive) Trusts are not needed in most cases and the simplest and most direct methods for passing property on death are often the best.