Upon your death, the trust estate is distributed to the named beneficiaries almost immediately, without the intervention of a probate court. Remember, the trust is an entirely private affair and no one, other than the beneficiaries, needs to know the contents of the instrument. This precludes disgruntled heirs from using the threat of a court battle to tie up the estate in years of litigation. So far so good. But when the second spouse dies, unless he or she has placed the property in joint tenancy with someone else, that property will be probated.
Most estate planners advise against joint tenancy for a variety of reasons.
For some persons, in certain situations, joint tenancy may be a wise decision. For instance, say you own your home and care in joint tenancy with your son. If the son gets into an accident, and the injured person files a lawsuit, you d be named a defendant along with your son. Or take this scenario. You and your wife own all assets in joint tenancy with a view to avoid probate when one of you dies.