Updating estate to TOD and POD

[Cooper@1960]

I'm in Ohio.

I have had an estate plan for years, prepared by an estate attorney, but recently updated my financials to POD and property to TOD, it's a simple estate and I'm trying to avoid probate. I have a question regarding the language in my current last Will and Testement.

It reads;
All debts and all funeral and administrative expenses, including the cost of delivery of any bequest hereunder, shall be paid from my PROBATE ESTATE as soon as practical after my death.

If I have the entirety of my estate set up as POD/TOD so there will be no reason to go through probate does the language "PROBATE ESTATE" create any legal conflict?

I'm trying to avoid having to rewrite my Will and Testement.

Thank you

 

[adjusterjack]

I'm trying to avoid having to rewrite my Will and Testement.

It's time for an update.

Don't be penny wise and dollar foolish.

 

[zddoodah]

If I have the entirety of my estate set up as POD/TOD so there will be no reason to go through probate does the language "PROBATE ESTATE" create any legal conflict?

No, but I doubt this is the question you intended to ask.

I think what you want to know is whether, by having all of your titled assets set up so that they are not part of your probate estate, it will create issues with respect to the payment of your debts. The answer to that question is maybe.

You'll never have ZERO probate estate. Your personal effects can't be TOD or POD. Those things only work for titled assets like financial accounts, real property and motor vehicles. Since you told us nothing about your assets, we can't speak to whether you have things of real value that can't be passed by TOD/POD.

You also told us nothing about the debts you currently have or are likely to have when you die or your age or medical condition. These are things an estate planning lawyer knows or would ask about so that appropriate recommendations can be made. For example, if you have significant debts and transfer assets without consideration (which is what TOD and POD are), the recipient(s) of those actions could be sued for fraudulent transfer.