Why Adding a Child to Your Assets is Not a Substitute for a Trust We all want to handle our affairs as economically as possible. When looking at the costs of estate planning , it is tempting to find a workaround to avoid probate without paying for a formal plan. A common scenario involves a parent trying to "DIY" their estate plan by simply adding an adult child as a joint owner to a business, a deed, or a financial account. The logic seems sound: If I add them now, they own