Morningstar:  “Not doing so can have unintended consequences.  But improper titling–or failing to change asset titles when your life situation changes–can lead to unintended consequences. For one thing, the way your assets are titled will trump anything that's in your will. So if you pass away and you've titled your assets in a way that doesn't reflect your current situation and true wishes, the work you've put into estate planning may be for naught.”