Can You Avoid Probate Completely?

Can You Avoid Probate Completely?

When grieving the demise of a loved one, a complex financial and legal procedure is the last thing you would like to handle. But most of the time, that is exactly what happens when the near and dear ones of a deceased need to undergo the probate procedure.

The family members of the decedent need to understand this process as it can keep them away from getting caught by surprises. Many questions need to be answered here.

These include questions like who will be taking charge of the will after a person dies; is there any way to avoid the lengthy probate procedure, and what happens if the person dies intestate. Well, taking up the question of whether a will can be avoided completely, first of all, you must know that avoiding the process can help in saving a huge amount of money.

Second, it speeds up the transfer of the estate assets to the beneficiaries and also preserves the privacy of the family. There are some easy and simple ways of avoiding probate, but before everything else, you need to understand what probate is in reality.

What is Probate, and Is It Smart to Avoid the Process?

Probate is a legal procedure for managing the estate of a deceased. If the deceased has left a testament or a will, the procedure will involve proving the legal validity of the will, executing the instructions of the deceased, and paying off all taxes.

The procedure becomes easy by having a will in place. Following it, the distribution of the assets takes place among the beneficiaries. A will does not just help in specifying who would inherit what but even designates the executor who will be taking care of fulfilling all the instructions in the document.

It is considered a smart move to avoid probate because it has a number of advantages to offer. These include:

  • It becomes faster and simpler for the account beneficiaries and heirs to claim funds.
  • Avoiding expensive fees along with the fees of the executor is also possible.
  • Everything pertaining to the estate asset distribution can be kept secret instead of making them public.

Benefits of Going through Probate

It works to depend on a will for dictating how the assets will be distributed. So, undergoing the probate procedure is beneficial in the following way:

  • Will make the intent of the deceased clear. The state laws governing the distribution of assets are very strict and complex. Therefore, it works to have a will that makes way for the communication of the wishes of the person who is no more. And yes, a will even make the backup-plan of a person clear.
  • Wills also help individuals in leaving money for organizations like college and charity. There are certain probate-exempt accounts that allow only human beings as the beneficiaries.
  • The creditors missing out on the windows for claiming debts might have less recourse in the presence of a will.

The family and financial situation of a person determines whether it would be feasible for him or her to go through the probate procedure or avoid it completely. It is always a good deal to keep as many assets as possible out of the probate process. What individuals need to work on is thinking ahead of time and coming up with their wills.

This way, they will have their wishes communicated, which will further reduce stress and even avoid arguments among the heirs.

How to Avoid it?

Avoiding probate can be very easy, regardless of the reason why you want to avoid the process.

First of all, many states have set exemption levels for the process. There is an expedited procedure in place for the small estates. Hence, individuals need to check the probate estate limits in their state before making the final decision.

Another way of avoiding probate is by giving away everything while a person is still living. Instead of leaving behind the assets for friends and family members after your death, you can give them the things before anything happens to you.

This not only helps in reducing the estate that needs to go through probate but even assists in trimming and eliminating future state and federal estate taxes. 

Coming up with a living trust can also help in avoiding probate. That’s because properties of a trust are not part of the estate. Hence, it is not possible to distribute it after the demise of an individual.

Using these ways of avoiding estate is beneficial, but it is always advisable to consult a lawyer serving this field.

Table of Contents

Disclaimer:

The information provided in this blog post is for general informational purposes only. All information on the site is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the site.

Under no circumstance shall we have any liability to you for any loss or damage of any kind incurred as a result of the use of the site or reliance on any information provided on the site. Your use of the site and your reliance on any information on the site is solely at your own risk.

This blog post does not constitute professional advice. The content is not meant to be a substitute for professional advice from a certified professional or specialist. Readers should consult professional help or seek expert advice before making any decisions based on the information provided in the blog.

aeecorp.net alianda.net giftsandflowersdelivery.com capnken.com chadgill.com mdkchild.com oconeefps.com vegchip.com localdentistnj.com pedare.org rushcover.com 10-10ths.com abvakabo.net personalattorneynewjersey.com graficas.us csteefel.com oqprogram.com hogchow.com nearmepersonalinjurylawyer.com exotechs.com slawson.net kengunn.com cosmeticdentistrybk.com dentistnearmetoday.com thescinc.com sensney.com porcelainveneersbrooklyn.com guyjamm.com actslab.com iklanpr.com dudedog.net jongery.com frogetha.com mayieka.com tahoerf.com namekeg.com skytudor.com digacomp.com elyrical.com abacobeachdivecenter.com zamichow.com fernworx.com rozei.org herzstein.org noniene.com webtvdoc.com arenauk.org omniali.net oolitic.net slimlife.org sentrabd.com gladych.com petrifiedtoad.com sourebh.com nslijhs.com tgspider.com lektura.org demycom.com ospreyam.com antacids.net mywebpad.com mvscrew.com lowellmovers.net gotshui.com locallawyerblog.com unimarts.com misrasi.com locallawyersnj.com alum-tek.com ubertor.net dental-aed.com medicalmalpracticeattorneybronx.com dentistnearmebronx.com defwords.com gocamden.com amprose.net mcamics.com webboss.org virdiusa.com medicalmalpracticelawyerbronx.com divinev.com lawyermarketingmiami.com nearmepersonalinjurylawyers.com medicalmallawyersbronx.com allaxion.com lphilton.com osaruman.com jaxguide.com thecall.net cssvoip.com bcsgifts.com plastron.net dentistnearmestatenisland.com popeafb.net bestbrooklynattorneys.com mrshines.com nearmeattorney.com dentistnearmequeens.com localseolawyers.com whysdmi.org lowratescarrental.com sjwalter.com dentalbrooklyn.net wofsmail.com spgurley.com omalawyers.com etalgom.com gmzbuyers.com cadsteam.com ewgapdx.com theellen.org jdevien.com booksavy.com dentalbrooklyn.info avitexas.com ebizthai.com localseodental.com castsoxs.com vr5xs6yh.com ridemoor.com brooklynadvanceddentalcare.com escorts-nyc.net personalinjuryattorneysnjs.com fastpawnonline.com toothimplantsbrooklyn.com rootcanalbrooklyn.com mearabia.com togtouch.com epcdaily.com timesfcu.com lawyersbk.com vaianisi.com cybewire.com giftsandflowersdirectory.com mooredns.com dentistnearmenewyork.com gp-beautysalon.com oxadrine.com boxsteps.com 3bliving.com psychdog.us foralbum.com eurofixpaintingandtile.com dentistrybk.com arielber.com akatonia.com ilcorail.com elitepersonalinjuryattorneys.com dentistnearmebrooklyn.com famsvane.com dentallabny.com nearmepersonalattorneys.com teethwhiteninginbrooklyn.com dentistnearmelongisland.com moversframingham.com mydentistbrooklyn.com colacake.com paradiselocksandkeys.com carsfile.com solapnet.com ausburyparkmovingcompanies.com dpfeeney.com nearmedentals.com homeinhb.com joeyspcs.com locallawyernyc.com icubeweb.com avifiles.com dentistbk.com regismfg.com bencamel.com playkiwi.com hosearch.com fondaciocanada.org click2classic.com nearmepersonalinjuryattorneys.com invisalignbrooklyn11229.com toothextractionbrooklyn.com locallawyersny.com siyangbi.com eriefsbo.com teserint.com gaiacred.com bigapplegoldbuyer.com homeimprovementgeneralcontractors.com tofuclan.com funeatin.com soldrite.com siyiyoga.com getmilko.com myhelong.com nearmepersonalinjuryattorney.com walibris.com etard.net arkrocks.com pansdora.com limmudtr.com lungsusa.org golisters.com newyorkaccidentslawyer.com greytblog.com ovolaw.com medicalmalpracticeattorneysbronx.com electionreceipt.com depsites.com opasm.org rcadss.com lamassio.com personalinjuryattorneysnys.com funemoney.com benramon.com izandoli.com leicsvle.com busiwebs.com coolnewt.com jrhome.org affirmers.org pvbgc.org localattorneynj.com sehah.org xtcplace.com djonfire.com epaops.org hometheatermiami.com peelseek.com jandavidson.net nappyboyent.net nygot.com ziggs.org uniquedayspa.net vistamro.com pdmanewengland.org ewanrose.com lawyersconsult.com grovepto.org disfilca.com artmystic.com ocany.org quarkpark.info paingold.com tactfoot.com marmasse.com iddmiami.com cdstrees.com lostel.com itxoft.com sparltech.com
On Key

Related Posts

Trusts and Wills
Federal Law

Understanding Trusts and Wills

Introduction to Trusts and Wills Trusts and wills are crucial components of estate planning, serving distinct but complementary roles in managing and distributing an individual’s

Read More »
Estate Planning

Crafting Your Last Will and Testament

Crafting Your Last Will and Testament: Essential Steps and Legal Advice Creating a last will and testament is a fundamental component of estate planning, ensuring

Read More »
Estate Planning

Understanding Trusts and Wills

Introduction to Trusts and Wills Trusts and wills are crucial components of estate planning, serving distinct but complementary roles in managing and distributing an individual’s

Read More »