Dear Liz: I’m wondering why, in your answer about whether to use a will or a living trust, you didn’t mention that probate can be avoided by using beneficiaries for assets such as mutual funds and brokerage accounts and now, in many states, homes. This seems quite relevant to the question and the gist of your answer.

Answer: Space limitations, and reader attention spans, prohibit exhaustive answers to many personal finance questions. Nowhere is that more true than in estate planning, which can get complicated quickly.

It’s hard to avoid probate entirely without a living trust. So-called transfer on death designations can indeed work for small estates, providing that the rest of the estate — the “tangible personal property” such as furniture and jewelry — is small enough to qualify for simplified probate proceedings. (In California, that limit is $150,000.)

Even with small estates, though, transfer on death designations aren’t necessarily the right solution for everyone. Beneficiary designations are easy to forget, for one thing, which can mean accounts going to the wrong people after life changes. In other words, your ex-wife or your mother may wind up with an account that should have gone to your spouse. People who choose to use transfer on death designations instead of a living trust need to remain vigilant about keeping those designations up to date.

They also need to explore other potential ramifications, especially if they’re taking a do-it-yourself approach. For example, if a beneficiary dies first, or simultaneously, the asset may wind up having to go through probate.

Also, as this column discussed a few months ago, real estate transfers in certain circumstances can cause the property to be reassessed, leading to much higher tax bills for heirs. That’s something an attorney would be able to explain to a client while preparing a will or living trust, but it’s something a DIYer might miss.