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The law requires probate for a good reason. If a person dies, probate ensures that the property goes to the people who are supposed to inherit it.
It’s generally recommended that you review your will and other end-of-life documents at least every few years, although there can be reasons to do a checkup more often.
For most people, entering the realm of estate planning can feel a bit like traveling as a tourist into another culture. Because the language itself is unfamiliar, asking a question can result in an answer that is equally confusing.
Non-probate assets are those assets which do not go into an estate when the owner dies.
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.