Short answer: Probably not.
Joint ownership can be a good way to transfer assets seemlessly to your spouse, significant other, or children immediately upon death, if they are titled “with right of survivorship.” However, this will rarely allow you to avoid probate for two reasons:
1. Wills = Probate
Wills are often called “tickets to probate” because if you have a will, you have to probate the will even if you do not have a probate estate. Wills guarantee probate regardless of what you own. If you have less than $20,000 in personal property, there is a mechanism in North Carolina that allows expedited probate – but still, probate nonetheless. It’s impossible to title everything you own, especially all of your clothing and personal property, in a transfer-on-death manner. So, most people will still need a will as a catch-all.
2. What Happens when the Surviving Spouse Dies?
Relying exclusively on a joint ownership plan is thinking very short-term. While it may work, subject to the concerns above, for the first spouse to die – what happens when the second spouse dies? If you’ve relied solely on a transfer-on-death designation to that point, your will is going to catch much more of your estate than you may have originally thought. And, again, wills = probate.
One of the biggest mistakes an individual or couple can make when planning their estate is to only plan for the first death, and not the second or subsequent deaths. Estate planning should at least consider, if not plan for, how your estate will pass to subsequent generations – not just from one spouse to the other.
Unfortunately, unless you use trust-based estate planning, it’s unlikely that you can avoid probate at some point.
Author Bio
Paul Yokabitus
Founder & Estate Planning Lawyer
Paul Yokabitus is the founder of Cary Estate Planning, where he helps North Carolina families protect what matters most through wills, trusts, probate, and special needs planning. Known for his “planning, not paperwork” approach, Paul turns complex legal concepts into clear, practical strategies so clients feel informed and confident at every step. He has been recognized as a Business North Carolina Legal Elite attorney and a Super Lawyers Rising Star, and was named to the Triangle Business Journal’s 40 Under 40. A graduate of Campbell University School of Law, Paul lives in the Triangle with his wife, Alix, and their two sons.
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How We Help North Carolina Families
Paul and his team at Cary Estate Planning are fully committed to creating a personalized experience to develop thorough and comprehensive estate plans. They value their clients and go above and beyond to make sure that no details are missed. I would highly recommend Paul to anyone looking to create an estate plan.
I was referred to Paul by my Real Estate Attorney and I could not say enough about how exceptional the client service has been from everyone I spoke to. The communication is prompt and I feel like they really took the time to answer all my questions and set things up exactly as I wanted, but also recommended things to make it easier on my family down the line.
After attending one of Paul’s estate planning seminars, my husband and I knew we wanted Paul to assist us with our estate planning. His honest, professional approach to this necessary part of life put us at ease with the process. We will continue to recommend Paul and Cary Estate Planning.
We had a great experience working with Paul Yokabitus and the team at Cary Estate Planning to set up our Will and Estate Plan. The process was clear and easy, and in the age of COVID, our signing session was very well done, easy, and safe.
The Cary Estate Planning team will make sure that you have the information you need to be confident in your estate planning decisions. I learned so much from videos, a one-on-one in-person consultation, the website, emails, and a newsletter mailed the old fashioned way. The fee is very reasonable given the importance of estate planning. No matter the size or number of your assets, don’t procrastinate like I did!
Paul is a masterful attorney. He’s very good at taking your intentions and defining that into a durable Trust and Will. Best of all he is as simple and plain-spoken as you like. Or as fast as intellectual as you may be. It’s all about your your speed and your desired outcomes. Would strongly recommend this firm.
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