Emily Jackson, a new client, has asked you about probate avoidance planning with regard to her property. She wants to know whether it is advisable in her case, and if so, what are its advantages and disadvantages, if any. Emily is 47 years old, divorced and mother of a daughter, Amy, 25 years old, and a son, Glenn, 20 years old. She owns a personal residence with a mortgage, has a small IRA, and modest additional savings. How do you respond to Emily regarding her probate avoidance question?