Why a Will Alone Won’t Keep Your Family Out of Probate | Estate Planning for Federal Employees

A will by itself still has to go through probate before your family can settle your estate. In this FedLegacy webinar, William Smith sits down with Jackita Bass and Bradley Tramel of the Fed Trust and Wills team to explain how a funded revocable living trust keeps your home and other property passing to your family privately and on your terms. William opens with the estates of Prince and Aretha Franklin, which played out in public court, and explains why FedLegacy brought estate planning in-house for federal employees and retirees. In this session: Why a will still requires probate, and why probate often has to be published in the newspaper What it means to fund a trust, and why an unfunded trust works like an empty bank account Whether you need a trust if you already named beneficiaries on your TSP and FEGLI How to leave money to children and grandchildren for specific milestones like college or a first home How long it takes to set up a trust How to put real estate in more than one state under one trust How vacant land scams target inherited family property Chapters 0:00 Why legacy planning matters for federal employees 4:57 Online wills vs. large attorney firms 7:21 Meet Jackita Bass and Bradley Tramel 8:07 Is a will enough? 10:04 Will vs. revocable living trust and probate 12:22 What it means to fund a trust 14:03 Why estate planning gets put off 15:34 Deciding what each family member receives 23:01 Q&A: Do you need a trust if you named TSP and FEGLI beneficiaries? 25:21 How long it takes to set up a trust 27:48 Real estate in multiple states 28:11 Vacant land scams and inherited property 31:44 Lessons from families who went through probate Book a Discovery Call with FedLegacy: https://fedlegacy.zohobookings.com/#/... Join FedLegacy live every Wednesday. Jackita and Bradley join William on the last Wednesday of every month.