This chapter helps the students to describe the probate process, its advantages, disadvantages, and costs. Gifting strategies require the strategic use of time value of money calculations. Many gifting strategies incorporate the use of insurance. The choice of assets, including investments, to be used in gifting strategies is crucial to maximizing a client's potential lifetime benefit and goals of gifting. The successful financial plan will recommend gifting strategies that minimize taxes, maximize flexibility, consider future life and tax law changes, and meet the client's human dimension goals and objectives. The chapter also helps them to explain the characteristics and consequences of using alternative methods of transferring property at death, including named beneficiary, trusts (revocable and irrevocable), payable on death and transfer on death designations, probate, intestate succession, and direct transfer through titling. The chapter further makes the students to select the most appropriate property transfer mechanism for a client's situation.