Don't put these 5 assets in a living trust. How to help your kids bypass probate when you die

Core Insights - The article discusses the importance of setting up a living trust to avoid the lengthy and complicated probate process that can arise after death [2][3][4] Group 1: Probate Process - Probate is a legal process that validates a will, names an executor, pays off liabilities, and distributes assets to heirs, which can take years and incur significant legal fees [3][4] - The case of Ozzy Osbourne's $220 million estate illustrates the potential for hefty inheritance taxes and a lengthy probate process, highlighting the benefits of having assets in a trust [4] Group 2: Living Trusts - A living trust allows individuals to maintain control over their assets and designate beneficiaries, helping to avoid probate and protect privacy [4] - The article emphasizes that many people are unaware of the probate process until they are faced with it, underscoring the need for proactive estate planning [3] Group 3: Life Insurance - Life insurance is presented as a simpler alternative to ensure financial protection for loved ones, with the importance of choosing a reputable provider and aligning premiums and payouts with financial goals [5]