An investment account registered as a TOD “Transfer-on-Death” with a designated beneficiary or beneficiaries will bypass probate at death in nearly every state except Texas and Louisiana. The owner of the account still maintains control of the account with this registration and your beneficiaries will not have access to the securities while you are alive. After your death the beneficiaries can register the account in their name(s) by sending an application and a copy of the death certificate the transfer agent or the securities firm. A fairly straightforward process.