Probate is the legal process of transferring the assets of a deceased person to their beneficiaries. It is a court-supervised process that can be time-consuming and expensive. There are a number of ways to avoid probate, and the best option for you will depend on your individual circumstances.
One way to avoid probate is to create a living trust. A living trust is a legal document that allows you to control how your assets are distributed after you die. Unlike a will, a living trust takes effect while you are still alive. This means that you can continue to manage your assets and make changes to the trust as needed.
Another way to avoid probate is to own assets jointly with another person. If you own property with another person as “joint tenants with right of survivorship,” the surviving owner will automatically inherit the property when the other owner dies. This means that the property will not go through probate.
You can also avoid probate by naming beneficiaries for your assets. For example, you can name a beneficiary for your bank accounts, investments, and retirement accounts. If you do this, the assets will be transferred to the beneficiary directly after you die, without the need for probate.
If you have a small estate, you may be able to avoid probate through a simplified probate process. The requirements for simplified probate vary from state to state, so you should check with your local probate court to see if you qualify.
If you are concerned about probate, you should speak with an estate planning attorney. An attorney can help you understand your options and can help you create an estate plan that meets your specific needs.
Contact the Law Office of Constance A. Aschenbrenner
The Law Office of Constance A. Aschenbrenner is a full-service law firm that provides comprehensive estate planning services. Attorney Connie Aschenbrenner has many years of estate planning experience and can help you create an estate plan that meets your specific needs.
Sign up for a workshop
The Law Office of Constance A. Aschenbrenner also offers free workshops on estate planning. These workshops are a great way to learn about the basics of estate planning and to get your questions answered.
To sign up for a workshop, please visit the Law Office of Constance A. Aschenbrenner’s website at www.akwillstrusts.com.