The Role of Trusts in Estate Planning

A revocable trust can be beneficial for efficiently transferring assets to heirs without going through the state probate process. Traditional IRAs and Roth IRAs typically pass by contract to beneficiaries, so they do not need to be placed in a trust. Instead, simple solutions like transfer-on-death accounts for brokerage accounts can help families avoid the probating headaches. The podcast suggests that for many individuals, a will may suffice, especially when only a primary residence is at stake.