If it was me I would leave it in a joint account with my spouse. I would have a will designating that the kids get assets. Problem solved.
Probate in my state is a fairly simple process -- especially considering that someone could be inheriting tens of thousands of dollars.
I went through the process with my deceased father back in 2014 and realized that probate was nothing to be feared.
-gauss
This is exactly what my brother advised us. I think lawyers fueled this fear of probate to force us to do trusts. I was a trustee to my aunt's estate and her lawyer made money setting up her trust. But also made a lot of money handling the trust after she passed.
We've created two individual taxable accounts with VG. They're there if we decide to split the joint account. Looking at all the replies here, I doubt we're changing anything.