Short answer

Yes — often you should consider a transfer-on-death (TOD) deed for real estate and a payable-on-death (POD) or beneficiary designation for bank and investment accounts even if your will leaves all your property to your daughter. A will controls how assets are distributed at death, but most wills must go through probate. TOD deeds and POD designations generally transfer assets outside probate, more quickly and privately. However, each option has trade-offs. Read the detailed explanation below and consider talking with an Arkansas attorney to decide what is right for your situation.

Detailed answer — how a will, TOD deeds, and POD designations differ in Arkansas

1. What a will does (and what it doesn’t)

A will states your wishes for distributing property at death and can name an executor to handle your estate. Under Arkansas law, a will’s instructions become effective only after the will is submitted to the probate court and the court admits it to probate. Probate typically involves court filings, a public record, deadlines, and possible fees. If your will leaves everything to your daughter, the probate process is the usual route the court follows to transfer titled assets (real property, bank accounts titled in your name alone, etc.) to her.

2. What a transfer-on-death (TOD) deed does

A TOD deed (sometimes called a beneficiary or beneficiary deed) lets you name one or more beneficiaries to receive title to real estate automatically when you die. You remain the owner during your life. You can sell, mortgage, or revoke the TOD deed at any time while you’re alive. On your death, the beneficiary’s ownership arises without probate for that parcel (provided the deed was properly executed and recorded under Arkansas law).

3. What a payable-on-death (POD) or beneficiary designation does

POD and transfer-on-death account designations on bank accounts, certificates of deposit, and many investment accounts allow the named beneficiary to receive the funds immediately after you die by showing the account institution a death certificate and completing the institution’s required forms. These transfers bypass probate for those accounts.

4. Main advantages of TOD and POD over a will-only plan

• Probate avoidance for the asset covered — faster transfer to your daughter.
• Privacy — transfers by TOD/POD usually do not create a public probate file.
• Lower immediate cost and delay — beneficiaries can receive assets without waiting for probate administration to conclude.

5. Main disadvantages and cautions

• Creditors’ claims: Avoiding probate does not eliminate creditor claims. Creditors can still assert claims against the estate or assets in many circumstances. The timing and procedure for claims against nonprobate assets can differ from probate claims.
• Unintended transfers: If you name a beneficiary by mistake or forget to change a designation after a life change (marriage, divorce, new child), the TOD/POD can transfer property in ways you did not intend.
• Conflicts with a will: A properly executed TOD deed or POD designation generally controls for the asset covered even if a will says otherwise. That can cause results different from what your will states.
• Joint ownership and other titles: Some titles (joint tenancy with right of survivorship, tenancy by the entirety) already pass automatically and can complicate whether a TOD deed or will applies.
• Out-of-state property: Real estate located in another state must follow that state’s law for transfer-on-death deeds.

6. How this typically plays out in Arkansas (practical examples)

Hypothetical A — Real estate in Arkansas titled solely in your name: If you rely only on a will that gives everything to your daughter, the property will generally pass to her only after probate. If instead you record a valid TOD deed naming her as beneficiary, she can receive title at your death without probate for that property.

Hypothetical B — Bank and brokerage accounts: If your accounts have POD or beneficiary designations naming your daughter, those assets will transfer to her outside probate. If they are titled only in your name with no beneficiary designation, the will and probate will control distribution.

7. How to decide (step-by-step)

1. Inventory all assets and how each is titled: real estate, bank accounts, retirement accounts, life insurance, vehicles, safe-deposit boxes.
2. Check beneficiary designations on retirement and insurance accounts — those forms usually control even if your will says something else.
3. Consider whether speed, privacy, and probate avoidance are important to you and your daughter.
4. Think about creditor exposure, the risk of changed family circumstances, and whether you want the flexibility to revoke a designation easily.
5. Consult an Arkansas attorney to coordinate your will, any TOD deeds, POD designations, and retirement/insurance beneficiaries so documents work together and reflect your intent.

8. Arkansas resources and next steps

Arkansas has statutes and court procedures that govern wills, probate, and transfers at death. For official Arkansas statutes and code search, see the Arkansas General Assembly’s Arkansas Code page: https://www.arkleg.state.ar.us/ArkansasCode. For information about probate court procedures in Arkansas, see the Arkansas Judiciary: https://www.arcourts.gov/.

Because TOD deeds and beneficiary designations can have long-term consequences, talk with an Arkansas estate planning or probate attorney who can: (1) confirm whether a TOD deed is available and the correct form and recording steps in your county; (2) review whether POD or beneficiary forms on accounts are valid and up-to-date; and (3) draft or revise estate documents so they work together.

Helpful Hints

• Do not assume a will alone keeps your estate out of probate—most probate courts must admit the will before assets transfer.
• Use TOD deeds for specific, titled Arkansas real property you want to pass outside probate; the deed must be properly executed and recorded to be effective.
• Keep beneficiary/POD forms current on all financial accounts, and request copies of current forms from banks or brokers.
• Coordinate beneficiary designations with your will. If a beneficiary designation exists, it usually controls for that asset even if your will says otherwise.
• If you change your mind, you can revoke a TOD deed or a POD/beneficiary designation while you’re alive (follow the proper revocation steps and record them if required).
• If your estate is small, Arkansas may have simplified probate or small-estate procedures — ask an attorney or your local probate court whether you qualify.
• Keep originals of deeds and beneficiary forms in a safe place and tell your daughter where to find them and whom to contact at institutions after your death.
• Review your estate plan after major life events (marriage, divorce, births, purchase/sale of property, significant changes in assets).