After a loved one has died, there is much to deal with in settling the estate. The last thing anyone wants is to go through a long drawn out probate process that can cost many thousands of dollars in legal fees. But all of that can be avoided by simply having the estate plan set up correctly in the first place.
With just some simple estate planning moves much if not all of a person's estate can avoid probate. For example all types of property can be placed in a revocable trust to avoid probate. At the time of decedent's death, the trust administrator simply distributes the assets in accordance with the decedent's written wishes.
But many people think that in order to avoid probate, one must have a revocable trust set up by an attorney. While revocable trusts can be beneficial in many estate plans. Many different types of property can be transferred without the need of a trust or going through probate. Simply having a car titled correctly can avoid probate. Drafting a deed correctly can avoid probate. Having a "payment on death" clause for a bank account can avoid probate.
None of these examples require a revocable trust to avoid probate. But taking just a couple of hours to plan this out with an attorney can save your heirs a lot of time and expense in administering your estate when you are gone. So set up your estate plan the right way to ensure peace of mind for you and your loved ones.
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