Short answer

Yes — a will alone does not always accomplish an automatic, immediate transfer of all assets to your daughter. In New York, some assets pass under beneficiary or account-title designations (payable-on-death (POD), transfer-on-death (TOD) registrations, retirement beneficiary forms, life insurance, or joint tenancy) and may bypass probate. Other assets that are owned solely in your name at death will usually pass through probate under your will. Using POD/TOD designations or other non‑probate transfer methods can simplify or avoid probate, speed transfers, and reduce costs — but each option has trade-offs. This is general information, not legal advice.

How property generally transfers at death in New York

There are two broad categories for how property transfers when someone dies:

• Non‑probate transfers: Assets that have an independent beneficiary designation or survivorship feature (POD bank accounts, beneficiary forms on retirement plans or IRAs, life insurance proceeds, joint tenancy with right of survivorship, and some security registrations) typically pass directly to the named recipient without going through probate.
• Probate assets: Property titled only in your name (for example, many parcels of real estate, bank or investment accounts that lack beneficiary designations, personal property) will typically be distributed according to your will after the will is submitted to the Surrogate’s Court and probate is completed.

For an overview of wills, probate, and estate administration in New York, the New York State Courts provide helpful guides: NYCourts — Wills & Estates. The relevant body of law governing wills, estates, and trusts in New York is the Estates, Powers & Trusts Law (EPTL): New York EPTL (legislation).

Why a will may not achieve the immediate transfer you expect

Key points:

• Wills govern probate property only. If an asset has its own beneficiary form (insurance, retirement accounts) or survivorship title (joint tenancy), that asset transfers according to that form or title, not the will.
• Assets passing via will normally require the Surrogate’s Court to open a probate estate. Probate takes time and may involve filing fees, executor duties, and sometimes notice to creditors.
• If you want a particular account or piece of real estate to pass to your daughter immediately at death and avoid probate, you need to make sure the account title or a valid beneficiary designation accomplishes that.

Common asset categories and what to do in New York

1. Bank and brokerage accounts

   Many banks allow “payable-on-death” (POD) or “in‑trust‑for” designations so the funds pass to a named payee outside probate. Confirm with your bank how to add or change a POD beneficiary. Accounts without POD and held solely in your name will usually be probate assets.

2. Retirement accounts and IRAs

   These transfer according to the account beneficiary form. A named beneficiary on the retirement plan usually takes precedence over provisions in a will. Review and update beneficiary forms with the plan administrator.

3. Life insurance

   Death benefits are paid to the named beneficiary on the policy, not by the will. Keep beneficiary designations current.

4. Real estate

   Real property titled solely in your name typically must pass under the will and through probate unless you use another device before death. Common non‑probate choices include:

   • Holding in joint tenancy with right of survivorship (joint titling) so the survivor becomes sole owner at death.
   • Transferring property into a revocable living trust (trust property avoids probate).
   • Inter vivos deed transfers (deeding property to the beneficiary while you are alive).

   Note: New York does not have a widely used statutory “beneficiary deed” (TOD deed) that functions like in some other states. If avoiding probate for real estate is a priority, consider joint tenancy, a trust, or an inter vivos deed. Consult the New York courts’ resources on real property and estate administration: NYCourts — Probate & Administration.

5. Stocks and securities

   Some brokerage firms allow transfer-on-death registration for securities. Check with the brokerage to confirm how to register a TOD designation for investment accounts.

6. Personal property

   Household items, vehicles, and other tangible property usually pass through probate unless title is jointly held or ownership is transferred before death.

Practical examples (hypothetical)

Example A: You leave all property to your daughter in your will, but your IRA names your brother as beneficiary. At your death the IRA proceeds will go to your brother directly, regardless of the will. If you intended the IRA for your daughter, you must change the IRA beneficiary form.

Example B: Your home is titled only in your name and your will leaves it to your daughter. Because the home is probate property, the Surrogate’s Court must process the will and transfer title. To avoid probate for the home, you could add your daughter as a joint tenant (with limitations and tax implications), place the home in a revocable trust, or transfer ownership while alive.

Steps to take now

1. Make an inventory of all assets and note titled owners and beneficiary designations.
2. Check each retirement plan, life insurance policy, and payable-on-death account beneficiary form. Update beneficiaries if they do not reflect your current wishes.
3. Review real estate title. If you want to avoid probate, consider options such as joint tenancy, a revocable living trust, or an inter vivos deed. Be aware of tax, creditor, and Medicaid/benefits implications before changing title.
4. Talk to a licensed New York estate attorney about whether a trust, beneficiary changes, or retitling make sense for your situation.
5. Keep records: beneficiary forms, deeds, account statements, and a copy of your will in a safe but accessible place for the person who will manage your affairs.

Pros and cons at a glance

• Pro of POD/TOD/beneficiary designations: Avoids probate for that asset, usually transfers faster, and reduces estate administration burdens.
• Con of POD/TOD: Designations can create unintended results (old beneficiaries, conflicts with overall estate plan). They may not allow conditional or staged distributions (e.g., specifying age-based inheritances) as easily as a trust or will-based probate plan.
• Pro of using a will only: Centralizes your wishes in one document and allows detailed directions (guardianships, timing, and conditions).
• Con of relying only on a will: Probate delays and costs; some assets will pass outside the will via beneficiary forms or joint title.

Helpful hints

• Don’t assume a will controls every asset. Check beneficiary forms and account titles.
• Beneficiary forms (retirement, insurance) generally trump provisions in a will.
• Changing a bank or investment account POD/TOD is usually a matter of completing the institution’s form. Record the change and keep a copy.
• Before retitling real property or adding a joint owner, consider implications for taxes, Medicaid eligibility, and creditor exposure.
• If you have minor beneficiaries or want controlled distributions, a revocable trust may provide more control than POD/TOD designations.
• Review your estate plan every few years and after major life events (marriage, divorce, births, deaths).

Where to find more information in New York

• New York State Courts — Wills & Estates: https://www.nycourts.gov/courthelp/estate/index.shtml
• New York EPTL (Estates, Powers & Trusts Law) (statutory framework): https://www.nysenate.gov/legislation/laws/EPT
• New York Courts — Probate & Administration: https://www.nycourts.gov/courthelp/estate/probate.shtml