I was thinking of having a Living Trust drawn up for the benefit of my wife should I pass away so that she would have access to all of our assets without going through probate.
It occurred to me that she already has full access to virtually all of our assets because she's on the title to the house and she's listed as the primary beneficiary of my non-retirement and retirement mutual fund accounts.
Is there any need for me to draw up a Living Trust? It seems that she should automatically be recognized as the legal owner of all of our assets in the event of my death even without a Living Trust or Will. What am I missing here?