Not all my bank accounts seemed to have the ability to set a TOD (transfer on death) or beneficiary. If your institutions do, that would avoid probate. Although, my understanding is that you have a much greater degree of flexibility by putting everything in the name of a trust.
One benefit could be that after the initial pain of re-titlin…
Not all my bank accounts seemed to have the ability to set a TOD (transfer on death) or beneficiary. If your institutions do, that would avoid probate. Although, my understanding is that you have a much greater degree of flexibility by putting everything in the name of a trust.
One benefit could be that after the initial pain of re-titling everything in the trust name, any future changes would only need to be done to the trust, and not every single account.
Not all my bank accounts seemed to have the ability to set a TOD (transfer on death) or beneficiary. If your institutions do, that would avoid probate. Although, my understanding is that you have a much greater degree of flexibility by putting everything in the name of a trust.
One benefit could be that after the initial pain of re-titling everything in the trust name, any future changes would only need to be done to the trust, and not every single account.