How to Avoid Probate
Probate can be a daunting process. It is the legal procedure that is done by probate court to settle an estate after a person has died. While probate is intended to streamline the division of property and assets, it is not a perfect process. Below are some ways you can avoid probate:
Revocable Living Trust –
A Revocable Living Trust is a legal entity that is created by a person, known as the trustor, that allows a third-party, known as the trustee, to manage the property or assets of the trustor for the benefit of a beneficiary. The trustor, also known as the grantor, is still alive when they make the agreement. This agreement allows the trustor to still benefit from the trust while alive but it also passes their assets on to their beneficiary when they pass away. A trust allows you to avoid probate and the trustee can make the final decisions about property and assets
Setting up your beneficiaries –
Another option is to make sure your beneficiary designations are filled out on all of your life insurance policies, annuities, IRAs, 401(k)s, pension plans, bank accounts, ect.
Here at DAL Law Firm, we would be able to discuss all of your options to avoid probate and help you decide what is best for you and your family. When you have a free consultation with the attorney Darcel Lobo, she would sit down with you and discuss the probate process and answer any questions or concerns you may have. Having an experienced attorney by your side can ease your mind about the process.
If you have questions about probate or believe someone may need assistance, please contact our office at CALL or www.dallawfirm.com.