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[quote=Anonymous]For most people, a trust is overkill and unnecessary. It's not free to establish or maintain, esp if you need a third-party trustee. IME, trusts pay for themselves in a blended family situation or when one spouse wants to ensure assets go directly to children, like PP who wants to protect her kids' inheritance from Daddy's new wife. Everyone can avoid probate if they: 1) establish Transfer on Death deeds for real estate, 2) name beneficiaries in retirement and brokerage accounts and 3) do a joint bank account with a child for day-to-day expenses - child becomes sole owner after death. If these are done, and children agree on an equitable distribution of household effects, and there are no other assets, there is no need to probate an estate.[/quote]
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