When Simon’s father passed away two years ago, he didn’t think much about how his estate would be handled. His mother had died five years before, and his dad’s will was clear about how his assets would be divided.
Then came probate, a process to confirm the validity of his will. Not only did unexpected fees come out of his dad’s estate, it took almost a year to settle and distribute it.
After his experience with probate, Simon didn’t want to put his family through the same painful delays and expense. He wondered if there might possibly be a different solution. So, he turned to his financial advisor, who explained that the simplest way for Simon’s estate to avoid probate hassles and costs would be to have his assets pass...