Tag Archives: avoiding probate
Reasons to Consider Implementing a Trust
Today’s most common estate planning strategy is to create a will that pours your assets over into a revocable trust. When you pass away, any assets you hold solely in your name become part of your estate. The will provides instructions to your personal representative to transfer those assets to the trustee of your trust. […]
Life Insurance Can Assist With Estate Planning
Life insurance exists to protect your loved ones after your passing and ensure they have sufficient resources to get by in your absence. It can also be a critical tool for your estate planning. Here are just a few instances where life insurance can be helpful as you plan your estate: Covering end-of-life expenses: Life […]
Answers to Frequently Asked Questions About Living Trusts
Living trusts can be highly useful estate planning tools for people in all types of financial situations. Below are answers to some of the questions we most frequently receive about these trusts. Q: Why is a living trust beneficial for my estate plan? One advantage associated with a living trust is that any property you […]
How Joint Tenancy Can Help You Avoid Probate
Joint tenancy is the most popular means of avoiding probate. Any property held in joint tenancy automatically passes to all surviving owners when one owner passes away. Setting up joint tenancy is also an easy (and free) process, which only adds to its popularity. Anyone who purchases real estate, motor vehicles, securities or other valuable […]
What You Cannot Change by Avoiding Probate
Avoiding probate is one of the more common goals people have when they’re engaged in estate planning. Although there are numerous trusts and other estate planning tools that can help you circumvent probate, it is important to remember that bypassing probate does not allow you to avoid other important obligations. Below are a few examples […]
Could You Avoid the Probate Process?
When an individual passes away, his or her will goes through probate court. While many estates go through this process, it might not be relevant to all estates. The following criteria may be used to determine whether or not a person’s estate may be able to avoid probate: Common assets: Not all of a decedent’s […]