When do I need probate?
When the assets exceed $166,250.
However, if there is real property valued at less than $166,250 that is subject to probate administration, this will require Court involvement as well. Including many timeshares.
Transfer on Death Deed
Let us examine the TOD deed and where it is most likely to be appropriate.
How often do I need to review my documents?
Generally every 3 to 5 years, when major life events occur, or when there is a change in the law.
Changes in family relations such as:
Marital dissolution or separation
Death of a spouse
If you get married
Changes regarding a child or grandchild (or other beneficiary)
Birth, Marriage, Divorce, Adoption, Death, Financial Responsibility
Changes in your economic status:
Asset values substantially increase or decrease
Changes in employment
Change in business interests
Changes in the law - such as estate tax exemption
Change of residence
Death or inability to act of one of your successor agents (trustee, executor, attorney in fact, health