03/19/2025
Probate - a term we all may have heard, but not know what to do with when it comes to our lives.
Oftentimes time consuming, costly, and stressful, here are ways you can avoid it:
1️⃣ Name Beneficiaries on Financial Accounts
-This allows assets to pass directly to named beneficiaries without probate.
2️⃣ Establish a Revocable Living Trust
-You remain in control as the trustee, and upon death, the successor trustee distributes assets without probate.
3️⃣ Use Joint Ownership with Right of Survivorship (JTWROS & Tenancy by Entirety)
-When one owner dies, the surviving owner automatically inherits the property without probate.
4️⃣ Give Assets as Gifts Before Death
-You have the ability to give away assets before you die meaning they are no longer a part of your estate and won't go through probate.
If you can avoid probate, it is probably in your best interest.
You can save time, reduce costs, maintain privacy, and avoid family disputes by having a plan in place now.
