Short answer
Yes — possibly. A will controls how assets that go through probate are distributed, but many assets pass outside probate by title or beneficiary designation. If accounts, deeds, or contracts name a transfer-on-death (TOD) or payable-on-death (POD) beneficiary, or if property is jointly owned with rights of survivorship, those nonprobate mechanisms generally govern the transfer even if your will names your daughter as heir. If you want your daughter to receive everything and you want to avoid probate, keep titles and beneficiary designations consistent; otherwise you may need TOD/POD changes or title changes in addition to your will.
Detailed answer — how wills, POD, and TOD work in Iowa
Start with two core concepts:
- Probate vs. nonprobate property: A will governs only property that must pass through probate — that is, assets owned solely in your name at death without a named beneficiary or survivorship arrangement. Examples: a bank account titled only in your name with no POD beneficiary, real estate you own in your sole name (unless you use a valid TOD deed), and personal property in your sole name.
- Nonprobate transfers: Many assets transfer automatically outside probate because of their title or beneficiary designation. Common examples are POD bank accounts, TOD deeds for real estate, payable/transfer-on-death registration for securities, life insurance and retirement account beneficiary designations, and joint ownership with rights of survivorship. These transfer methods usually override instructions in a will because the asset no longer belongs to the probate estate at death.
Practical effects under Iowa law:
- If a bank account is titled with a POD beneficiary, the bank will typically pay the account to the named beneficiary after your death. The will’s instruction to leave that account to your daughter would not change that result.
- If real estate is transferred by a valid TOD deed (where available and properly executed under Iowa requirements), the named beneficiary receives title at your death without probate. If you only left the property to your daughter in your will but someone else is named on a valid TOD deed, the other named beneficiary will take outside of probate.
- Retirement plans, IRAs, and life insurance pay according to the named beneficiary on the account contract, regardless of what a will says. Federal and contract rules often govern these accounts.
- Jointly owned property with rights of survivorship passes to the surviving co-owner automatically and is not controlled by your will.
Where to look in Iowa resources:
- Iowa Code and probate resources — use the Iowa Code to read statutory provisions on wills, probate procedure, and estate administration: https://www.legis.iowa.gov/law/iowaCode.
- Iowa Judicial Branch probate information — practical public guidance on probate process and forms: https://www.iowacourts.gov/for-the-public/going-to-court/probate/.
Because many statutory and contract rules affect specific asset types, check the specific account or deed language and the recorder’s and bank’s rules before assuming a will will control everything.
When you still need a TOD deed or POD designation
Consider adding TOD or POD designations if any of the following are important to you:
- You want to avoid probate delays and costs for specific assets.
- You want a fast, direct transfer of an account or real estate to a beneficiary at death.
- You want to ensure a particular asset does not become part of the probate estate because of creditor, privacy, or administrative concerns.
Keep in mind limitations and risks:
- Designations override your will for that asset. If you name someone other than your daughter on a POD/TOD, your will cannot change that.
- TOD/POD transfers may affect estate tax, creditor claims, or eligibility for public benefits (e.g., Medicaid). Avoid surprises by coordinating with an attorney.
- Some assets (pensions, employer retirement plans) follow plan documents and federal law, so you must follow plan beneficiary rules to be effective.
Practical next steps — what to do now
- Make an inventory. List all bank and investment accounts, retirement plans, life insurance policies, real estate deeds, vehicles, and how each is titled and whether it has a beneficiary designation.
- Compare titles and beneficiary names with your will. Any asset with a beneficiary designation or joint title bypasses probate and will not be controlled by the will.
- Decide whether you want to use TOD/POD to avoid probate for certain assets. If yes, follow Iowa recording and bank rules for creating valid designations. For real estate, contact your county recorder or an attorney to prepare a proper TOD deed (if Iowa recognizes the form you want to use and the deed is properly executed and recorded).
- Update beneficiary designations where needed (bank, investment, retirement plans, life insurance). Make sure forms are signed and accepted by the account custodian.
- Coordinate assets and documents. If your will names your daughter as the heir to everything, ensure account titles and beneficiary forms reflect that intention to avoid conflicting results.
- Consult an attorney for complex situations, large estates, blended-family planning, Medicaid planning, or when privacy and creditor concerns matter.
Helpful Hints
- Don’t assume consistency: a will that leaves “everything” to your daughter does not change titles or beneficiary forms you already signed.
- Label accounts clearly: POD for bank accounts is simple; TOD for real estate requires exact statutory or local formatting and recording — check with the county recorder.
- Check retirement and insurance beneficiary forms regularly; life events (marriage, divorce, births) often require updates.
- Keep one up-to-date instruction sheet explaining where titles and beneficiary documents are kept; executors and beneficiaries will appreciate it.
- If you want to disinherit someone or change distribution rules, use beneficiary designations and titles carefully and get legal help to avoid disputes.
- Be aware of unintended consequences: POD/TOD transfers can create tax events or affect eligibility for benefits. Ask a lawyer or financial advisor when needed.