While the standard point of view is that the ultimate endpoint of black hole evolution is determined by Hawking evaporation, there is a growing evidence that classical and semi-classical instabilities affect both black holes with inner horizons as well as their ultra-compact counterparts. In this paper we start from this evidence pointing towards extremal black holes as stable endpoints of the gravitational collapse, and develop a general class of spherical and axisymmetric solutions with multiple extremal horizons. Excluding more exotic possibilities, entailing regular cores supporting wormhole throats, we argue that these configurations could be the asymptotic graveyard, the end-point, of dynamical black hole evolution - albeit the timescale of such evolution are still unclear and possibly long and compatible with current astrophysical observations.
