Not how it works

4 Jun 2025 · 1 min

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In this monologue, the speaker warns listeners that assets left in a will are subject to probate, a court‑supervised process that verifies debts, validates the will, and distributes remaining assets. The speaker highlights that probate can be lengthy and costly, citing an example of a three‑year probate, and explains that assets cannot be sold or transferred until probate concludes. As a remedy, the speaker recommends establishing a living trust, which bypasses probate and allows smoother transfer of property after death.

Chapters

I don't know who needs to hear this, but if you are being left something in a will or need to know about this, when you leave something in a will, it will go through probate when you die. Probate is a legal process basically sorting out like who the heck gets what, which sounds confusing because obviously when you leave things in a will, you think that the person that you left the thing in the will to will get the thing. But that's not how it works when it's in a will. Basically, it goes through the courts, like make sure that that person's debts have been paid off and then like whatever's left, they get to essentially like divvy up. And it can obviously be expensive and insanely time-consuming. He told me that they've been in probate for 3 years. 3 years. So even if you were left this piece of property to like eventually sell, can't do that until probate is over. So the solution to all of this is basically to have a living trust.