At Beckman Law, we know that clear communication saves time and money. Beginning with a simply-written will, our goal is to help you transfer your assets in the shortest time possible at the least cost.
In larger estates, trusts are often used to avoid probate.
Non-probate assets don't require a probate court order. Rather, they go directly to your beneficiaries and bypass the court. A few examples include:
- Retirement accounts with a named living beneficiary
- Property held in the name of a trust or in joint tenancy with a living person
- Bank and brokerage accounts held jointly by the decedent and a survivor
- Life insurance listing a named living beneficiary, not the decedent's estate
- Placing assets in joint names with a spouse may avoid probate if done properly
Placing your assets in joint names with someone other than a spouse can cause significant legal problems. Examples include the death of a joint tenant, bankruptcy or divorce of the joint tenant, or the joint tenant being a named defendant in a lawsuit. Trusts are often the preferred way to avoid probate.
Avoiding probate can save time and money under the right circumstances. Our experience can help you make the right choices.