Did You Know? Three Ways to Avoid Probate
Probate can be an expensive alternative to estate administration, but there are at least three ways (depending on the types of assets are owned), that someone can avoid probate.
- Create a Trust;
- Include a payable on death beneficiary(ies) to certain accounts; or
- Revise vesting language in deeds for real property.
Estate planning requires specific knowledge of tax and creditor implications. If you are trying to avoid probate, it it important to speak with an estate planning attorney and/or tax consultant to be sure that actions you take will protect your assets for years to come.
If you have questions about your estate plan, give Twig Law a call.
Owning assets (property, vehicles, vessels, bank accounts, etc.) in your individual capacity could lead your estate into probate at your death, if proper planning is not done. Our Twig Department professionals can help guide you. Call us at (954) 636-1653