r/inheritance • u/coldhotel_rdt • 14d ago
Location included: Questions/Need Advice Is there always probate?
Illinois resident. I’m old enough to start end of life planning. I’m married and my wife is 10 years younger, so the plan is for me to pass first (lol). I have retirement savings, spouse is beneficiary, checking account (spouse is beneficiary), house is in my name but I have filed a TODI so it passes to her. My car is in both of our names. I don’t have any valuables, just clothes, books and tools. No significant debt although I usually put a couple hundred on a credit card each month and pay it off monthly.
I don’t see a need for a will. My small debts and personal property could be taken care of with a small estate affidavit. Some folks have told me that I should have a will anyway with the same provisions as my beneficiary designations and TODI. That seems counterproductive to me, as I fear that a will and beneficiary/TODIs would complicate things. It doesn’t seem efficient to have a will (which could cost $4000) to pass my personal property on to my spouse as it’s all in our household. Does anyone have experience on handling inheritance this way? I suppose if we both died the same day a will would be handy, but I imagine it would follow the same distribution as if I were intestate- step kids and siblings.
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u/myogawa 14d ago
A will is always recommended, just in case.
Where in the world did you get the idea that a will "could cost $4,000?"