Whenever retirees hear the word “probate” they immediately feel the urge to avoid it at all costs. This may cause them to take steps that they believe are harmless and will allow them to avoid this process. Commonly, one of these steps is adding their adult children as joint owners on their bank accounts and some investment accounts. The idea being that they can continue to enjoy the assets while they are alive, they can get their kids’ help managing the assets as they age, and when they eventually pass away, those assets can go around the estate. But what many retirees don’t understand is the risks and issues that they are taking on when they make these changes.