If completely moneyed, your revocable living trust prevents both probate, in your state of house when you die, and supplementary probate, in any other state where you own property. If you do not money your trust, it will NOT prevent probate anywhere.
The term “ancillary probate” is used to describe probate in a state besides the state of your last home. If you own a home in Florida in your private name, however you live and die in New York, ancillary probate will be held in Florida and probate will be held in New York.
Ancillary probate indicates 2 lawyers (one certified in each state), two courts and 2 executors or administrators (one in each state), two sets of fees, and, possibly, even 2 various sets of heirs (if state intestacy laws use.)
You can absolutely prevent probate and secondary probate with a fully moneyed revocable living trust. “Completely moneyed” suggests that all of your assets have been funded, or moved, into the trust.
Non-retirement properties with titles have the titles altered to the name of the trust. Brad Pitt’s bank account wouldn’t remain in his name, Brad Pitt, but instead would be transferred to the name of his trust, Brad Pitt, Sole Trustee, or his successors in trust, under the Brad Pitt Living Trust, dated June 3, 2011.
In addition, Brad Pitt’s retirement assets, life insurance, and annuities would not call Angelina Jolie as the recipient, however instead would name Brad’s trust, Brad Pitt, Sole Trustee, or his followers in trust, under the Brad Pitt Living Trust, dated June 3, 2011. By doing this, all properties would be managed by the provisions in the trust.
Assets that commonly cause secondary probate are time shares, vacation homes, condominiums, and any individual property such as home furnishings and cars owned in another state.
If you want to avoid probate and supplementary probate, ensure that your revocable living trust is totally moneyed and talk to a competent estate planning lawyer.