• The firm's client, Abigail Costello, who you worked with previously, would like a full estate plan to transfer her property to her son, Marcus and her daughter Alicia, when she dies. Abigail's remaining property includes three houses, a 401(k), some stocks, bank accounts, two automobiles, jewelry, and some antiques and household furnishings. Abigail would like the transfer process to be as smooth as possible for her children when she is gone.Your supervising attorney has tasked you with drafting a memorandum that can be provided to the client explaining her options.
• Your legal memo should include at the least the following information:
• Explain the probate process in the event Abigail chooses to move forward with a traditional will
• Explain the process of transferring Abigail's property to her children after her death
• Provide a critique of the probate process, including why Abigail might wish to use alternative estate planning mechanisms
• Explain the alternative estate planning mechanisms Abigail could use, including a trust, Transfer on Death Affidavit, and beneficiary designations. You should provide the pros and cons for each of these alternatives.