Avoiding Probate

Avoiding Probate

Steps one takes to prevent one's estate going through probate court after one's death. Probate court can be expensive and time-consuming for one's survivors and thus steps are often taken to avoid it. One may avoid probate in a variety of ways; examples include making gifts to relatives and sharing property ownership with a spouse.
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He is Florida Bar Board Certified in Wills, Trusts and Estates, and his practice focuses on estate planning, probate and trust administration, with an emphasis on protecting and preserving his clients' assets, minimizing taxes and avoiding probate.
"Plan Your Estate" covers: wills and living trusts; avoiding probate; bypass (AB) trusts; naming guardians for children; leaving property to children; estate, gift, and inheritance taxes; strategies for business owners; leaving property to charity; health care directives; and financial powers of attorney.
A living trust can be a dispositive document to supplement or supplant a will, thus avoiding probate, which can be costly and time consuming in some states.
She then goes on to explain just how a living trust can give you maximum control of your financial legacy, both at incapacity and after you die; the many benefits beyond avoiding probate; and why a living trust meets the needs of today's families far better than any other estate plan.
Completely in accord with the latest federal and state laws, "Plan Your Estate" is a complete course of instruction and covers such issues as: wills; avoiding probate; living trusts; bypass (AB) trusts; naming guardians for children; leaving property to children; estate, gift, and inheritance taxes; strategies for business owners; leaving property to charity; health care directives, and financial powers of attorney.
Your objective may be to simply make sure that your loved ones are provided for Or you may have more complex goals, such as avoiding probate or reducing estate taxes.
Avoiding probate generally remains a goal in most states, but since most assets can now pass by beneficiary designation, clients have few assets left to transfer to a living trust and avoid probate.
Usually, I'm dealing with one guy." That's an example of Jennie Clark Stewart's second reason for estate planning: avoiding probate. While probate oversight can protect the interests of property owners in certain situations --for example one broker selling a property at a rock-bottom price to a friend or associate--it is also an unneeded complication in other circumstances brought about by a failure to plan.
It should be written into a trust so it pays directly to your beneficiaries, avoiding probate.
Annuities are also a great option for avoiding probate. They can usually obtain a better rate of return than banks offer on accounts, but offer more flexibility with surrender-free withdrawals and the ability to turn the money into a guaranteed income stream if ever needed--income that cannot be outlived.
Avoiding probate and passing assets to heirs estate-tax free maybe the main goals.
The primary advantages of the RLT allow a grantor to: (1) provide for the management of assets upon his mental or physical disability and avoid conservatorship proceeding; (2) reduce costs and time delays by avoiding probate; (3) lessen the chances of a successful challenge or election against a will; (4) maintain confidentiality by not having to file a public will; and (5) avoid ancillary administration of out-of-state assets.