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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have more but under $5m, and I have a will with a straightforward testamentary trust. Everything but the house would avoid probate because we have beneficiaries/successors listed. The house has a mortgage with a due-on-sale clause, so it's not going into a trust any time soon.  Until someone can convince me otherwise, I see no need for a trust.  [/quote]

^ we are the same.   [/quote]

PPP - If in VA, you can register a TOD at the county for the real estate to pass. Also, RE does not go through probate in VA.

"Real property, which is not held jointly or left to a beneficiary through a Transfer on Death Deed, passes directly to the beneficiaries named in the will or to the legal heirs, and is not part of the probate estate in Virginia unless the will authorizes the executor to sell it."

https://www.vaela.org/probate-process-virginia

A trust just gives you more flexibility with distributions compared to just naming a beneficiary. For example, 18 y.o. son will get 5% of assets each year vs. a lumpsum access to $5M. I realize you can do this through a testamentary trust but I'm not sure of the mechanics. Will the executor of the will have to file the will in court and get a judge's approval before assets can be titled in the name of the Trust?[/quote]

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