Probate may be required after you die, a will isn’t enough.
It is important to have an estate plan in place as well with instructions for how your assets should be distributed once they go through the probate court system. You can also leave specific beneficiaries or umbrella trusts if there are multiple people who wish to receive those items from your life’s work.
To ensure the assets go to their intended beneficiaries, you need court approval and may have multiple probates filed in each state. The probate process can be both difficult and time-consuming. It’s often costly, exhausting, with attorney fees added onto the list of expenses that must be borne by heirs in order to transfer ownership or possession over an estate’s assets from one person (or group) who has died intestate into another legally recognized individual/entity willing enough take them on for this purpose without any strings attached other than those which are mutually agreed upon beforehand because everyone wants what they perceive will bring happiness but sometimes these desires change along comes destiny
Jointly-owned property and assets that let you designate a beneficiary (for example, life insurance) are not controlled by your will. These types of accounts transfer without probate to the surviving owners or beneficiaries in most cases but there can be problems with joint ownership so it’s important to use these methods carefully if at all possible! In addition, avoiding going through court proceedings may also take some planning work on behalf of your estates.
The pour-over will is a great way to avoid court control of assets and Probate at death, but it does have some limitations. For example, the instructions governing your plan can be changed only by you or those with legal authority over them such as an executor if there are multiple Probates needed because they own property in other states which need transferring from one Estate lawyer’s jurisdiction before distributing among beneficiaries designated on asset lists held within these localized regions outside their professional practices respective home States where the deceased person died.
A trust can continue to exist after death, unlike probate which will eventually come to an end. This is because you are able through creative use of language in wills or trusts – both legal documents-to appoint someone trustworthy enough on behalf of loved ones so they may manage assets until beneficiaries reach their desired age(s), if necessary for minors who have special needs; protect property from creditors’ claims while also shielding children’s inheritance against reckless spending by others close too them–and even provide future generations with some security should something happen unexpectedly up until now!
The cost of establishing an estate plan that includes both a living trust and pour-over will is not necessarily more expensive initially than an Estate Plan with only one component, but it can avoid fees or costs later when court involvement may be necessary at incapacity due to illness.