If you don’t have a will then one of the best ways to title a non retirement account is by using the "TOD" or "POD" registration. This is known as "Transfer on death" or "Pay on death" and allows the assets to pass directly to a named beneficiary outside of your will and probate, quickly, and efficiently. Most banks, mutual funds, and brokerage accounts should allow accounts to be titled this way. It’s a simple change of paperwork………..
A married couple can possibly take advantage of a different type of asset registration known as “Tenancy by Entirety.” This registration isn’t available in all states although it is accepted in Virginia and Maryland.
This is similar to the common Joint Tenancy registration. With Tenancy by Entirety both husband and wife own an undivided interest in the property (usually their house) with survivorship rights. A great feature of this type of ownership is that it can provide an extra level of creditor protection, as each person can claim whole ownership of the asset.